RIYADH, Sept 8 (Nyongesa Sande) – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has secured more than $7 billion in investor orders for its planned 10-year U.S. dollar-denominated bond, according to market sources.
The bond, which is expected to be benchmark-sized, with pricing later on Monday, launched initial price guidance of around 120 basis points over U.S. Treasuries.
The move follows strong market activity from Saudi Arabia last week, when the kingdom raised $5.5 billion through sukuk sales, tightening pricing after heavy investor demand.
The $1 trillion PIF, which recently reported an $8 billion write-down on gigaprojects in its 2024 annual report, continues to tap global debt markets to fund its ambitious investment program aimed at diversifying the Saudi economy away from oil.
Global banks have been lined up to manage the debt sale. Citi, HSBC, and JPMorgan are acting as joint global coordinators, while Bank of China, BNP Paribas, Goldman Sachs, ICBC, and Standard Chartered serve as joint active bookrunners.
The bond is part of Saudi Arabia’s broader strategy to deepen its access to international capital markets while sustaining the financing of large-scale development projects tied to Vision 2030.
