PIF prices international bond offering at SAR 18.75B

The Public Investment Fund (PIF) completed the pricing of a $5 billion (SAR 18.75 billion) Reg S international bond offering. The offering was over five times covered, attracting orders worth $27 billion (over SAR 10 billion).

In an emailed statement to Argaam, PIF said the offering comprised of the following three tranches:

- $1.75bn, 5-year coupon maturing in 2029

- $1.75bn, 10-year coupon maturing in 2034

- $1.5bn, 30-year coupon maturing in 2054

The offering is part of the fund’s Euro Medium-Term Note Program and comes in line with its strategy to continually diversify its funding sources.

Fahad Al Saif, Head of Global Capital Finance Division said continued strong demand from international institutional investors is testament to the ongoing success of PIF's medium-term capital raising strategy. It is also reflective of PIF’s strong credit profile and financial strength, highlighting its role as one of the key drivers of Saudi Arabia’s economic transformation and as one of the largest and most impactful sovereign wealth funds globally.

Source: Argaam