PIF sets guidance for euro green bonds: Report

Logo of Public Investment Fund (PIF)

Saudi Arabia’s Public Investment Fund (PIF) set initial price guidance for its euro-denominated benchmark green bonds, which will be issued in two tranches, Reuters reported, citing International Financing Review (IFR).

The fund set the initial price guidance at 125 basis points over mid-swaps for the seven-year notes, along with between 90 and 95 basis points over the same benchmark for the three-year notes, according to the report.

Pricing is expected later today, Oct. 7.

Reuters earlier reported on Oct. 6, that PIF plans to issue two-tranche euro-denominated green bonds.