Saudi Arabia sets record with cUSD17.5bn bond issue
Saudi Arabia conducted the largest-ever emerging market bond sale on Wednesday, selling cUSD17.5bn of debt in the government's first international offer, compared to order books of USD67bn. A USD5.5bn five-year tranche was launched at 135-140bps over U.S. Treasuries, a USD5.5bn 10-year tranche at 165-170bps over, and a USD6.5bn 30-year tranche at 210-215bps over, according to sources. A source familiar with the offer said order books totaled USD67bn (Reuters, Bloomberg)
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