Appetite for Saudi Arabia tested by latest jumbo loan - Reuters:
Saudi Arabia’s Public Investment Fund (PIF) has attracted only tepid interest in plans for its latest multibillion-dollar debt sale, banking sources say, suggesting the kingdom is losing its appeal for some lenders.
International banks have flocked to join the efforts of the the Middle East’s largest economy to reduce its reliance on oil and have continued to seek Saudi business despite Riyadh’s relations with Western allies being tested by the murder last year of journalist Jamal Khashoggi.
The Saudi government has raised nearly $60 billion in global bonds since 2016, as well as a $16 billion international loan, with a string of state entities also joining the debt bonanza, including this year’s $12 billion bond issue from oil giant Saudi Aramco.
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