知情银行家表示，由于沙特阿拉伯首次发行国际债券吸引了亚洲投资者的极大兴趣，沙特阿拉伯正考虑在最早于10月首次发行150亿美元债券之后，继续推出大量债券发行计划。

　　The clamour for Saudi sovereign debt, which could be the largest emerging market issuance in history, comes as record-low interest rates in mature economies has prompted investors to pour money into developing markets at a record pace, overlooking the risks in some of the world’s least stable economies.

　　沙特主权债务——可能创下新兴市场债务发行最高纪录——大获追捧之际，正赶上成熟经济体历史最低利率促使投资者无视全球最不稳定的一些经济体的风险，以创纪录的速度将资金投入发展中市场。

　　We are seeing massive, massive demand, said one banker of the Saudi debt.

　　负责沙特债券发行的一位银行家表示：我们看到了无比巨大的需求。

　　Asian banks are throwing around billion-dollar numbers.

　　亚洲银行报出了数十亿美元的数字。

　　Saudi Arabian leaders are expected to discuss their plans with potential investors at next week’s Group of 20 meeting in China, bankers say.

　　银行家们表示，沙特阿拉伯领导人预计将在下周中国二十国集团(G20)峰会上与潜在投资者讨论计划。

　　Deputy Crown Prince Mohammed bin Salman, the 31-year-old responsible for the kingdom’s ambitious economic and social reforms, is also planning to visit Japan this week and will chair the kingdom’s G20 delegation in China.

　　副王储穆罕默德?本?萨勒曼(Mohammed bin Salman，上图)也计划本周访问日本，并将率领沙特代表团赴中国G20峰会。现年31岁的萨勒曼负责沙特雄心勃勃的经济和社会改革。

　　Saudi officials surprised the financial markets earlier this year by hiring bankers to raise international debt, underlining the extent of the economic downturn after an extended oil boom had erased the memory of previous crashes.

　　今年早些时候沙特官员聘请银行家筹划发行国际债券，令金融市场感到惊讶，此举凸显沙特经济下滑程度，此前长期的石油繁荣已抹去了过去经济崩溃的记忆。

　　Spurred by the collapse in energy prices, Prince Mohammed has spearheaded a sweeping reform programme aimed at diversifying the kingdom’s economy away from dependence on oil reserves.

　　在能源价格暴跌的刺激下，萨勒曼领导起了全面改革，旨在让沙特告别对石油储备的依赖，使本国经济多样化。

　　The $15bn offering, expected to come as early as October, is also expected to pave the way for the biggest initial public offering of all time by state oil producer Saudi Aramco.

　　此次150亿美元债券预计最早于10月发售，而且估计也是为国有石油公司沙特阿拉伯国家石油公司(Saudi Aramco)进行史上最大首次公开发行(IPO)铺路。

　　Detailed plans for the sovereign debt sale are unlikely to be set until after the Islamic holiday of Eid al-Adha, with many government offices not expected to reopen until September 18.

　　此次主权债券发行的详细计划不大可能在伊斯兰教节日古尔邦节(Eid al-Adha)假期结束前确定，因为许多政府机关直至9月18日才会重新开门。

　　A roadshow to sell the landmark issuance — which will set the final size and tenor of the deal — could then begin at the start of October with the deal potentially closing around the time of the annual meetings of the International Monetary Fund and World Bank in Washington on October 7-9.

　　那么，此次里程碑式债券发行的路演——将最终确定发行规模和期限——可能在10月初开启，发行可能在国际货币基金组织(IMF)和世界银行(World Bank) 10月7日至9日在华盛顿召开年会前后完成。

　　Bankers say Saudi government entities, lenders and private corporations are also lining up their own debt issuance to follow in the wake of the sovereign launch.

　　银行家表示，此次主权债券发行之后，沙特政府机构、银行及私人企业也将排队发债。

　　Everyone is waiting to see how the appetite will turn out for the government, and at what price, which can then be used as a benchmark, said a second banker.

　　所有人都在等着看市场对政府债券的胃口到底有多大、价位多少，然后把这些作为基准，另一位银行家表示，今年底之前还应该有一些其他的债券发行。

　　There should be some other issuance before the end of the year. Saudi Arabia is seen as a safer investment than other emerging economies because it remains nearly debt free and has the world’s largest oil reserves.

　　相对其他新兴经济体，沙特被视为一个更安全的投资对象，因为该国仍保持几乎零债务，而且拥有世界最大规模的石油储备。

　　But it is also benefiting from the desperate hunger for yield among investors starved by record-low interest rates in Europe, the UK and Japan.

　　但沙特也受益于那些备受欧洲、英国及日本创纪录低利率折磨的投资者对收益的迫切渴求。

　　Bankers say Asian investors not previously seen in emerging market bond transactions are helping to raise order books to new highs as negative interest rates in Japan leave the majority of Japanese government bonds trading in sub-zero territory.

　　银行家表示，此前未曾在新兴市场债券交易中出现过的亚洲投资者正在将订单簿抬至新高，因为日本的负利率使得大多数日本政府债券的收益率都处于负值。