RIYADH, Sept 8 (Arabian Wall Street) – Saudi Arabia’s Public Investment Fund (PIF) has drawn more than $7 billion in investor orders for its planned 10-year U.S. dollar bond, as strong global demand underscored confidence in the kingdom’s nearly $1 trillion sovereign wealth fund.
According to market sources, initial price guidance was set at around 120 basis points over U.S. Treasuries, with final pricing expected later on Monday. The issue is expected to be benchmark-sized, typically at least $500 million.
The latest issuance follows Saudi Arabia’s successful $5.5 billion sukuk sale last week, which attracted robust demand and allowed the kingdom to tighten pricing. That sale came amid heightened international interest in Saudi debt, reflecting the government’s deepening efforts to diversify funding sources.
PIF recently disclosed an $8 billion write-down on some of its most ambitious gigaprojects, vast developments central to the Vision 2030 agenda aimed at transforming the Saudi economy and global image.
For the bond deal, Citi, HSBC, and JPMorgan were appointed as joint global coordinators. Bank of China, BNP Paribas, Goldman Sachs, ICBC, and Standard Chartered were named joint active bookrunners.
The strong demand signals continued appetite for Saudi debt, as the kingdom leverages international capital markets to support its expansive economic transformation projects.
