Logo of The Public Investment Fund (PIF)
The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, issued US dollar-denominated bonds worth $5 billion, Reuters reported, citing capital markets publication IFR.
The triple-tranche bond sale generated strong demand, with orders worth over $27 billion.
Final spreads narrowed from the initial guidance to reach 115 basis points (bps) over US Treasuries for the five-year bonds, 145 bps over US Treasuries for the 10-year bonds, and 205 bps for the 30-year portion.
The PIF set initial price guidance for its benchmark-sized, dollar-denominated three-tranche bonds, according to data available with Argaam.
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