Saudis Lure Investors to $7.5 Billion Debt After Khashoggi - Bloomberg

Saudis Lure Investors to $7.5 Billion Debt After Khashoggi - Bloomberg:

Saudi Arabia sold $7.5 billion of international bonds on Wednesday in the first test of how much damage the brutal killing of Washington Post columnist Jamal Khashoggi has inflicted on investor appetite.

Only three months have passed since global investors — along with some of the banks managing the deal — skipped a major economic forum in Riyadh amid broad condemnation over the murder, which some blame on Crown Prince Mohammed bin Salman. While early indications showed the kingdom would have to pay up, the premium narrowed substantially as the day went by.

“Saudi is not sanctioned, so I guess in the end for investors it’s a question of price, set against perceived risks,” said Tim Ash, a London-based strategist at BlueBay Asset Management LLC.