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Saudi Arabia’s Public Investment Fund (PIF) is preparing to issue a benchmark-sized three-year sukuk (Islamic bond) and a benchmark 2032 green bond, Bloomberg reported.
This will mark the fourth time the wealth fund has tapped the bond market to support its major investment plans, including giga-projects.
The sukuk is expected to be priced at around 110 basis points (bps) above US Treasuries, while the green bond is likely to be priced at 135 bps, Bloomberg reported, citing sources.
Goldman Sachs, HSBC Holdings and JPMorgan Chase & Co. are among the bookrunners, the report said.
Benchmark size typically refers to at least $500 million.
PIF has raised $7 billion through two dollar bond sales this year and an additional £650 million ($850 million) from a sterling-denominated issue.
Last month, the wealth fund secured a $15 billion revolving credit facility from a global syndicate of 23 financial institutions, replacing a previous facility for the same amount agreed in 2021.
(Editing by Seban Scaria seban.scaria@lseg.com)