Saudi Arabia on Thursday (September 28th) announced it had undertaken another multi-billion dollar bond sale to finance a budget deficit left by low oil prices, AFP reported.
The kingdom raised $12.5 billion in its third international bond issue, the finance ministry said.
Saudi Arabia has already undertaken three "sukuk" Islamic bond issues this year, including one international sale, totalling around $15 billion.
Last year it raised $17.5 billion in its first global bond issue -- the largest ever by a single country. Previously it had sold domestic bonds.
The latest issue was heavily oversubscribed with orders worth $40 billion, according to the finance ministry.
Economic growth in Saudi Arabia is expected to hit just 0.1% this year, the weakest since 2009, according to the International Monetary Fund.
The kingdom is due to introduce its first value-added tax (VAT) in early 2018 and is preparing to sell just under 5% of energy giant Aramco next year.
