Saudi Arabia to Sell Record $17.5 Billion of Sovereign Bonds

The offering followed a week of presentations to prospective buyers, taking in London, Los Angeles, Boston and New York, at which officials emphasized the kingdom’s efforts to diversify the $650 billion economy away from oil. The sale marks the latest step in Saudi Arabia’s efforts to open up its economy. Among proposals is an initial public offering of Saudi Aramco, the state-run oil giant. Continue reading →

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