Saudi Arabia Turns to Debt Markets for Vision 2030 Financing

A month ago, Saudi Arabia raised $3 billion from a fresh bond sale via its state oil major Aramco—the second for the kingdom since July—in response to lower oil prices. That latest bond has pushed Saudi’s total bond issuance this year to some $50 billion; Vision 2030 is a costly diversification project. Bloomberg reported on the total size of Saudi Arabia’s exposure to bond markets via its sovereign wealth fund this week. According to data compiled by Bloomberg writers, the Private Investment Fund of Saudi Arabia had issued...