Investors in Saudi bond turn blind eye to Khashoggi murder

Saudi Arabia_230
By Francesca Young
10 Jan 2019

Saudi Arabia's $7.5bn bond, issued on Wednesday, met with little resistance from investors, despite international condemnation of the killing of Jamal Khashoggi at the country's consulate in Istanbul last year. The lead managers built a $27bn book for the deal.

The $4bn 4.375% April 2029 bonds (long 10 years) were sold at 99.078 to yield 4.485%, or 175bp over US Treasuries. The $3.5bn 5.25% January 2050s (31 year) were sold at 98.614 to yield 5.342%, or 230bp over.

BNP Paribas, Citi, HSBC, JP Morgan ...

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