Kingdom sets record for emerging market issuance after turning to global bond markets to reduce budget deficit created by falling oil price
Saudi Arabia has raised $17.5bn (£14bn) from its first foray into the global bond markets as it seeks to repair the damage to its public finances caused by the collapse in the oil price since 2014.
Strong investor demand meant the Middle Eastern kingdom raised more from the bond sale than had been anticipated, beating the previous record set by Argentina for an issuance by an emerging market country.