PIF sets initial price guidance for three-tranche bonds

22/01/2024 Argaam

PIF sets initial price guidance for three-tranche bonds

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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