PIF announces completion of $4B bond offering

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) has successfully completed the pricing of a $4 billion (nearly SAR 15 billion) Reg S bond issuance. Proceeds from the issuance will be utilized for general corporate purposes.

According to the PIF statement, the international bond offering, undertaken as part of PIF's Euro Medium-Term Note Program, resulted in an oversubscription rate of four times and an order book of approximately $16 billion. The issuance comprised of two tranches:

The first is worth $2.4 billion (equivalent to SAR 9 billion), for five-year bonds.

The second is worth $1.6 billion (equivalent to SAR 6 billion), for 9.5-year bonds.

The oversubscription reflects the effectiveness of PIF’s capital raising strategy and affirms PIF’s key role in driving Saudi Arabia’s economic transformation. It also underpins PIF’s strong financial position, as well as its best practice approach to debt financing.

The PIF’s Head of Public Markets at Global Capital Finance Division, Ahmed Alrobayan stated that Persistent strong demand from international institutional investors underscores PIF's diversified investor base, robust medium-term capital raising strategy, and strong credit profile.

These factors facilitate continuous access to global capital markets, enabling PIF to effectively drive Saudi Arabia's economic transformation.