PIF receives $12 bln worth of orders for green bonds: Report

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) received more than $12 billion worth orders for the sale of US dollar-denominated green bonds in tranches of seven, 12 and 30 years, Reuters reported, citing a document it picked up.

The orders exclude interest from joint lead managers for the debt sale expected to price later today, Feb. 7, it noted.

Goldman Sachs, JPMorgan and Standard Chartered Bank were hired as global coordinators for the debt sale. Each tranche will be of benchmark size, which typically means at least $500 million, it added.

Bank of America Securities, BNP Paribas, Citi Bank, First Abu Dhabi Bank (FAB), HSBC and Morgan Stanley took part in the offering as actual bookkeepers.

In addition, Credit Agricole, GIB Capital, ICBC International Securities, Mizuho Bank, SMBC Nikko Securities and Societe Generale Group participated as bookkeepers.

Earlier today, Reuters reported that PIF is intending to sell US dollar-denominated green bonds comprising tranches with tenors of seven, 12 and 30 years. The sovereign wealth fund has already set the initial price guidance for the offering, according to Argaam’s data.