Saudi Arabia’s Public Investment Fund (PIF) has successfully concluded the pricing of a $5B Reg S international bond offering under its Euro Medium-Term Note Program, aligning with its strategy to consistently broaden its funding channels.
The bond offering consisted of three tranches:
- $1.75B, 5-year coupon maturing in 2029
- $1.75B, 10-year coupon maturing in 2034
- $1.5B, 30-year coupon maturing in 2054
Fahad Al Saif, Head of the Global Capital Finance Division, stated, “Continued strong demand from international institutional investors is testament to the ongoing success of PIF’s medium-term capital raising strategy.”
He added, “It is also reflective of PIF’s strong credit profile and financial strength, highlighting its role as one of the key drivers of Saudi Arabia’s economic transformation and as one of the largest and most impactful sovereign wealth funds globally.”
Loans and debt instruments represent one of PIF’s four funding sources. PIF holds an A1 rating from Moody’s with a positive outlook and an A+ rating from Fitch with a stable outlook.
