Saudi Aramco has received orders worth $75 billion for its debut bond sale. The deal is one of the most anticipated events of the year, showing investor hunger for high-quality credit after major investors briefly shunned the kingdom after the killing of Journalist Jamal Khashoggi.
Saudi Aramco will buy a majority stake in chemical giant Sabic from the kingdom’s sovereign wealth fund for over $69B. This is the Middle East’s biggest ever deal. It will transfer a big slug of cash from one arm of the state to another to finance Crown Prince Mohammed bin Salman’s economic agenda.