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The $17.5B bond issue kicks off the efforts by the Kingdom to plug its large budget deficit of $87 billion this year due to a hole left by oil prices, which have fallen more than a half from the peak seen in 2013. (File photo)

October 20th, 2016 - 04:10 GMT

Saudi Arabia gears up for record $17.5B bond issue

Saudi Arabia is expected to raise 75 percent more in the $17.5B bond issue than the earlier anticipated, receiving an order book of around $70 billion.