icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Is Saudi Arabia still on the ‘naughty’ list? RT’s Boom Bust on big banks chasing kingdom’s cash

Is Saudi Arabia still on the ‘naughty’ list? RT’s Boom Bust on big banks chasing kingdom’s cash
Oil giant Saudi Aramco’s bond offering has smashed a record after receiving $100 billion in orders. International investors were falling over themselves to lend money despite the kingdom’s less-than-stellar reputation.

RT’s Boom Bust talks to correspondent Alex Mihailovich who says Riyadh “got a whole infusion of cash” while it was hoping to raise just $10-15 billion.

The whole chase after those bonds was vastly overrated and inflated, critics say.

According to Mihailovich, Saudi Crown Prince Mohammed bin Salman “might be rubbing his hands together right now” as he got the backing of international banks.

“The Saudis sometimes might leave a bad taste in your mouth when it’s political stuff like Khashoggi and I could go on and on… but look, the money is there, the biggest oil company in the world, and investors – well they could put their blinders on easily when they smell the CASH,” he says.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.