PIF receives applications for debut of green bonds, sets initial price range: Report

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.