Home Emerging markets borrowers sell debt at near-record rate
Emerging markets borrowers sell debt at near-record rate
Issuance ‘tsunami’ comes as governments and companies seek to lock-in low interest rates
World Economy News
This article is part of the FT’s Runaway Markets series.
When Saudi Arabia announced it would sell $5bn of international bonds this week, investors scrambled for a piece of the action.
The gulf nation drew in around $20bn of orders for its 12 and 40 year bonds, helping it reduce the borrowing costs it paid on the debt, people familiar with the matter said.
Saudi Arabia’s feat is just the latest in a string of successes for emerging-market borrowers, who have rushed to tap international capital markets this year in an attempt to lock in low interest rates.