Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) has completed the pricing of a $5 billion Reg S international bond offering, according to a press release.

Under its Euro Medium-Term Note Programme, the PIF plans to diversify its funding sources.

The offering covers three tranches valued at $1.75 billion, $1.75 billion, and $1.50 billion, respectively.

The auctions hold a tenor of five years until 2029, 10 years until 2034, and 30 years until 2054, respectively.

Fahad Al Saif, Head of Global Capital Finance Division, said: “Continued strong demand from international institutional investors is a testament to the ongoing success of PIF's medium-term capital raising strategy.”

“It is also reflective of PIF’s strong credit profile and financial strength, highlighting its role as one of the key drivers of Saudi Arabia’s economic transformation and as one of the largest and most impactful sovereign wealth funds globally,” Al Saif continued.

It is worth highlighting that the Saudi fund is rated A1 by Moody’s with a positive outlook and A+ by Fitch, with a stable outlook.

In November 2023, PIF raised the Korea Trade Insurance Corporation (K-SURE) syndicated term loan to $5 billion from $3 billion.