Saudi Arabia's new $7.5 billion bonds trade up at market opening

DUBAI: Saudi Arabia's newly issued international bonds are up 1 point in early trade, fund managers said, in a further sign of investor appetite for the paper.

Saudi Arabia sold on Wednesday a $4 billion bond due in 2029 and a $3.5 billion bond due in 2050. It attracted over $27 billion in demand for the issuance.

The debt sale was the first test of international bond market sentiment since the kingdom came under intense scrutiny in October from foreign governments and investors over the murder of journalist Jamal Khashoggi.