Riyadh: Saudi Arabia’s sovereign wealth fund is returning to the dollar bond market for the second time in four months with a three-part debt offering.
The Public Investment Fund is marketing bonds with maturity of 7, 12 and 30 years, according to people familiar with the matter, who aren’t authorized to speak publicly and asked not to be identified. Books for the offering are open and the sale may price on Tuesday.
PIF, as the fund is known, in October raised $3 billion with its debut dollar bond sale that also marked its first foray into ethical finance. Saudi Arabia’s government, which controls the PIF, tapped the debt market in January, raising $10 billion through its first Eurobond sale of 2023.
Goldman Sachs Group Inc., JPMorgan Chase & Co., Standard Chartered Bank, BofA Securities, BNP Paribas, Citigroup, First Abu Dhabi Bank, HSBC Bank, Morgan Stanley, Credit Agricole CIB, GIB Capital, ICBC International Securities, Mizuho, SMBC Nikko and Societe Generale are managing the PIF offering.
