Dubai/London: Saudi Arabia attracted massive investor demand of about $67 billion on Wednesday for its first international bond offer, as the world’s top crude exporter allayed concern about the impact of low oil prices on its finances. Saudi Arabia is expected to raise up to $17.5 billion through its bond offer, which involves five-, 10- and 30-year tranches, the source said. Argentina set the current record for an emerging market sovereign bond sale in April, selling $16.5 billion. For the 10-year tranche, guidance tightened to 170 bps plus or minus 5 bps from a starting point of the plus 185 bp area. For the 30-year, Saudi Arabia set guidance at 215 bps plus or minus 5 bps; initial price thoughts were around 235 bps.

Source: Mint October 19, 2016 15:30 UTC