Saudi sovereign wealth fund PIF (Public Investment Fund) said it has successfully completed the pricing of a $5 billion Reg S international bond offering under its Euro Medium-Term Note Program in line with its strategy to diversify its funding sources continually.
This offering comprised the following three tranches:
*$1.75bn, 5-year coupon maturing in 2029
*$1.75bn, 10-year coupon maturing in 2034 and
*$1.5bn, 30-year coupon maturing in 2054
Fahad Al Saif, Head of Global Capital Finance Division, said: "Continued strong demand from international institutional investors is a 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," stated the topp official.
Loans and debt instruments represent one of PIF's four sources of funding. PIF is rated A1 by Moody's with a positive outlook and A+ by Fitch with a stable outlook.-TradeArabia News Service
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