Saudi Arabia’s $17.5bn bond sale has lessons for debt market:
"Saudi Arabia’s ambitious plan to chart a course away from oil dependence and towards a more diversified economy is off to a flying start — with a blockbuster $17.5bn debut sovereign bond sale.
Investors shrugged off concerns about the prospect of the sustained oil slump translating into years of anaemic growth, aggravating social concerns and a backdrop of regional tensions.
The lure of investing in a large economy with little debt that has never before issued a dollar-denominated bond, piqued global interest. Investor orders reached $67bn, enabling Saudi Arabia to borrow more — and more cheaply — than initially suggested."
'via Blog this'
Solely aggregation of news articles, with no opinions expressed by this service since 2009 launch on this platform. Copyright to all articles remains with the original publisher and HEADLINES ARE CLICKABLE to access the whole article at source. (Subscription by email is recommended,with real-time updates on LinkedIn and Twitter.)
Friday, 21 October 2016
Oil producers optimistic that the slump is over
Oil producers optimistic that the slump is over:
"As several of the world’s top oil executives rolled up at a Mayfair hotel in London this week for an industry summit, Brent crude, their benchmark product, was trading at $52 per barrel — exactly same the level as a year ago.
This might not seem like a cause for celebration. But, after the brutal retrenchment since prices collapsed from above $100 per barrel in mid-2014, the near 12-month highs of recent days have added to confidence that the worst is over for oil producers.
“We are at the end of a considerable downturn,” said Khalid al-Falih, Saudi Arabia’s energy minister and chairman of Saudi Aramco, the state-controlled oil company, at the annual Oil & Money conference. “The fundamentals are improving and the market is rebalancing.”"
'via Blog this'
"As several of the world’s top oil executives rolled up at a Mayfair hotel in London this week for an industry summit, Brent crude, their benchmark product, was trading at $52 per barrel — exactly same the level as a year ago.
This might not seem like a cause for celebration. But, after the brutal retrenchment since prices collapsed from above $100 per barrel in mid-2014, the near 12-month highs of recent days have added to confidence that the worst is over for oil producers.
“We are at the end of a considerable downturn,” said Khalid al-Falih, Saudi Arabia’s energy minister and chairman of Saudi Aramco, the state-controlled oil company, at the annual Oil & Money conference. “The fundamentals are improving and the market is rebalancing.”"
'via Blog this'