PIF sells $4B worth of bonds: Report

09:08 AM (Mecca time) Argaam
Logo ofThe Public Investment Fund (PIF)

Logo of The Public Investment Fund (PIF)

Saudi Arabia’s wealth fund sold on Jan. 22 international bonds worth $4 billion, Bloomberg reported, citing informed sources.

 

The Public Investment Fund (PIF) priced notes with maturities of five years and 9.5 years at spread premiums above US Treasuries of 95 and 110 basis points (bps), respectively, both 30 bps less than initial price talk.

 

Orders exceeded $16 billion, excluding joint lead manager interest, with demand equally split across the two tranches.

 

According to data compiled by Argaam, Bloomberg said earlier that the PIF is planning a USD-denominated bond issuance, to be executed in two tranches with maturities of five and 9.5 years.

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