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Aramco bond issuance

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Saudi Aramco’s debut international bond topped US$100 billion on Tuesday. After posting profits of US$111 billion last year, orders for Saudi Aramco’s debut international bond topped US$100 billion on Tuesday. Bloomberg points out that the bond sale raises money to finance Saudi Arabia’s economic development after an initial public offering (IPO) was postponed last year until at least 2021. Saudi Crown Prince Mohammed bin Salman is using the state oil producer’s pristine balance sheet to finance his ambitions…