Saudi Arabia passes bond test as investors look past Khashoggi | Reuters:
Saudi Arabia drew a strong response on Wednesday in its first test of international bond market sentiment since coming under intense scrutiny in October from foreign governments and investors over the murder of journalist Jamal Khashoggi.
Seeking to raise $7.5 billion, Riyadh attracted demand that topped $27 billion for the dual-tranche paper maturing in 2029 and 2050, according to a document issued by one of the banks leading the deal and seen by Reuters.
The sale coincides with improved conditions across emerging markets, with yields compressing over the past few weeks, and Timothy Ash, senior emerging markets strategist at Bluebay Asset Management, called it “opportunistic”.
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