Saudi Arabia Issues $12 Billion Bond as EM Nations Load Up
- Kingdom says investors placed around $30 billion of orders
- Emerging market borrowers have issued bonds heavily this year
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Saudi Arabia sold $12 billion of bonds — its largest deal since 2017 — amid a record start to a year for emerging-market countries.
The kingdom added to the almost $25 billion of bonds that developing nations had sold since the start of the year, the biggest of those being a $7.5 billion offering from Mexico. The Saudi deal is equivalent to more than half the fiscal deficit the government is projecting for this year.