Middle East borrowing sets record pace as investors seek yield

Middle East borrowing sets record pace as investors seek yield:

"Middle Eastern governments have set a debt-raising record in the first five months of this year, taking advantage of substantial investor demand for high-yielding emerging market bonds. Middle Eastern countries have sold $38.5bn of syndicated sovereign bonds in 2017, more than double the amount issued over the same period last year which was itself a record, according to figures from data provider Dealogic. Jan Dehn, head of research at Ashmore Investment Management, which has bought into some of the recent issuance, said that many Middle Eastern countries needed to raise debt to replace the oil revenues they had previously relied on."



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