Riyadh – Mubasher: Saudi Arabia's Public Investment Fund (PIF) is expected to tap international debt markets for a debut green bonds issue as soon as this week, Reuters reported citing five sources familiar with the matter.   

For months, the $620 billion sovereign wealth fund has been monitoring the market to find a window to issue. That window could come as soon as this week, as per market conditions, or possibly in October, and the deal is projected to raise billions of dollars.

The banks on the deal are expected to be the ones that have lent to PIF, two sources said.

In February, the PIF announced a green finance framework that showed net proceeds from a debt sale would go towards eligible projects, including renewable energy, clean transport, and green buildings.