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.
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