Saudi Arabia raises US$12.5b from dollar bond offering

Dubai

SAUDI Arabia raised US$12.5 billion from its second dollar bond sale this year as the kingdom bolsters its finances amid an economic overhaul.

The government sold US$3 billion of long five-year notes, US$5 billion of the 10-year tranche and US$4.5 billion of the 30-year offering, people familiar with the matter said, declining to be identified because the information is private. Investors submitted about US$40 billion in bids, they said.