[size=36]Bloomberg: Erdogan has $ 2 billion to thank Saudi Arabia[/size]
highlighted "Bloomberg" Friday highlighted the launch of an international sovereign bonds carried out by both Saudi Arabia and Turkey this week, noting that the conditions contributed to the increased demand for the bonds provided by the Ankara markets.
The economic agency said that Ankara has taken advantage of the increasing attractiveness of foreign investors to the bonds offered by Riyadh this week, saying that investors may have erred in assessing the economic risks of the bonds of Turkey, which faced severe economic problems in 2018.
She explained that Saudi Arabia has given priority to pricing new bonds instead Of interest to raise a large sum, which gave way to Turkey to present itself to investment funds, which was similar to the Middle East.
Bloomberg stressed that the timing chosen by Ankara was very appropriate, as it successfully sold bonds without any promotion and without prior notice, and sold $ 2 billion worth of bonds maturing in 2026 at an annual interest rate of 7.625%.
The Saudi Finance Ministry announced earlier this week that it had raised $ 7.5 billion from the sale of two tranche bonds maturing in 2029. According to Bloomberg, bond applications exceeded $ 27 billion.