PIF receives applications for debut of green bonds, sets initial price range: Report
05/10/2022
Argaam
Logo of The Public Investment Fund (PIF)
The Public Investment Fund (PIF) started receiving applications under the fund's first issuance of green bonds, which includes three tranches for five-, 10- and 100-year periods, Reuters reported, citing a PIF document issued today, Oct. 5.
PIF set an initial range for bond pricing of 150 basis points for the five-year tranche, 190 basis points for the 10-year tranche and between 7% to 7.25% for the 100-year tranche, which is expected to raise $500 million.
The five- and 10-year tranches are expected to be standard, which usually amount to at least $500 million.
PIF noted that admissions are now open, with the debut deal projected to close today.
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