Saudi gov­ern­ment bor­row­ing to spike

Gulf News - - Business -

planned to is­sue around 120 bil­lion Saudi riyals ($32 bil­lion; Dh117.2 bil­lion) of bonds in 2019 to help fi­nance its deficit.

Last week, Saudi Ara­bia raised $7.5 bil­lion in bonds due to ma­ture in 2029 and 2050. The fi­nance min­istry said on Thurs­day that the or­der book for the $7.5 bil­lion sale of longer-term debt peaked at $27.5 bil­lion, with fi­nal pric­ing only a few ba­sis points above cor­re­spond­ing sec­ondary mar­ket yields.

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