Saudi Arabia sets record with mammoth $17.5 billion bond issue
Saudi Arabia conducted the largest-ever emerging market bond sale on Wednesday, selling $17.5 billion (14.22 billion pounds) of debt in the government's first international offer while attracting investor orders totalling almost four times that amount.
The huge demand, larger than many market participants had expected, was partly due to ultra-low global interest rates and funds' frustration with a lack of high-yielding assets around the world.
But the sale was also a success for the world's top oil exporter in its efforts to convince investors that it can cope with an era of low crude... read more
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