Saudi raises US$5bil as bond investors brush off Gulf jitters

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DUBAI: Saudi Arabia has raised US$5bil in bonds after receiving around US$20bil in orders, a sign that an escalation in geopolitical tensions in the Gulf has not deterred investors looking for high returns amid low global rates.

The kingdom has issued bonds with maturities of seven, 12 and 35 years, a document by one of the banks leading the deal showed, as part of plans to raise US$32bil worth of debt this year as it seeks new financing channels in an era of lower oil prices.