PIF issues $5B bonds, total orders reach $27B: Report

Logo of The Public Investment Fund (PIF)

The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, issued US dollar-denominated bonds worth $5 billion, Reuters reported, citing capital markets publication IFR.

 

The triple-tranche bond sale generated strong demand, with orders worth over $27 billion.

 

Final spreads narrowed from the initial guidance to reach 115 basis points (bps) over US Treasuries for the five-year bonds, 145 bps over US Treasuries for the 10-year bonds, and 205 bps for the 30-year portion.

 

The PIF set initial price guidance for its benchmark-sized, dollar-denominated three-tranche bonds, according to data available with Argaam.

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