Saudi Arabia Debt Market Draws $533 Million in First OTC Trades

Saudi Arabia is seeing fresh debt trading activity after launching over-the-counter settlement for sovereign riyal bonds in an effort to develop the kingdom’s capital markets and draw more foreign investors.

About 2 billion riyals ($533 million) was traded over the counter in June, the first full month that the settlement option was available, according to data from exchange operator Saudi Tadawul Group.