Saudi Arabia raised $17.5 billion in the biggest ever bond sale from an emerging-market nation as it seeks to shore up finances battered by the slide in oil over past two years, according to Bloomberg. Previously it was assumed that Riyadh will place bonds worth $10-15 billion. The sale eclipsed Argentina’s $16.5 billion offering in April as the largest from a developing nation, underlining the deepening strain on a nation that has eschewed international debt markets until now.

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