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Saudi Arabia is raising $12.5 billion from its second dollar bond sale this year as the kingdom taps debt markets to bolster its finances amid an economic overhaul.The government sold $3 billion of the long five-year notes at 110 basis points over Treasurys and $5 billion of the 10-year tranche at 145 basis points, people familiar with the matter said, declining to be identified because the information is private. The kingdom raised $9 billion from the sale of five- and 10-year Islamic bonds in April to help bridge a budget deficit, forecast at 198 billion riyals ($53 billion) this year, or 7.7 percent of economic output.
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