RIYADH, Jan. 26 (Xinhua) -- Saudi Public Investment Fund (PIF) completed pricing a 5-billion-U.S. dollar Reg S international bond offering under its Euro Medium-Term Note Program.
According to a PIF press release, the offering aligns with its strategy to diversify PIF funding sources continually.
The offering comprised three tranches: a 1.75-billion-U.S. dollar tranche with a 5-year coupon maturing in 2029, a 1.75-billion-U.S. dollar tranche with a 10-year coupon maturing in 2034, and a tranche of 1.5 billion U.S. dollars featuring a 30-year coupon maturing in 2054.
Fahad Al Saif, PIF Head of the Global Capital Finance Division, said that continued strong demand from international institutional investors is a testament to the ongoing success of PIF's medium-term capital-raising strategy.
He added that it also reflects PIF's strong credit and financial profile.
The Saudi official highlighted its role as one of the key drivers of Saudi Arabia's economic transformation and one of the most significant and impactful sovereign wealth funds globally.
Loans and debt instruments represent one of PIF's four sources of funding.
PIF is rated A1 by Moody's with a positive outlook and A+ by Fitch with a stable outlook. ■
