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Saudi Arabia Raises $3.25 Billion Bond as Economy Rebounds

  • Investors placed $11 billion of orders for the two-part deal
  • Tuesday’s deal came as economy rebounds quickly from oil crash
Saudi Aramco's Connected Khurais Oil Field
Photographer: Maya Sidiqqui/Bloomberg
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Investors bid for more than three times the $3.25 billion that Saudi Arabia raised in sales of dollar bonds Tuesday, the country’s third foray into international debt markets this year.

The kingdom sold $2 billion of Islamic debt maturing in 9 1/2 years and $1.25 billion of 30-year conventional bonds, according to people familiar with the matter. The 30-year notes were priced to yield 3.36%.