PIF sets initial price guidance for three-tranche bonds

22/01/2024 Argaam
Logo ofthe Public Investment Fund (PIF)

Logo of the Public Investment Fund (PIF)

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) has set initial price guidance for its benchmark-sized, dollar-denominated three-tranche bonds, Reuters reported, citing a bank document.

 

The Saudi wealth fund gave initial guidance of around 150 basis points (bps) over US Treasuries (UST) for its 5-year bonds, 175 bps over UST for its 10-year bonds, and 235 bps over the same benchmark for its 30-year option, the document showed.

 

Citi, Goldman Sachs International, and JP Morgan are working as joint global coordinators for the bond offering.

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