Saudi's PIF expects to raise $829.5mln from debt sale, IFR reports

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PIF, which manages more than $700 billion in assets, has set the spread on the 5-year note tranche at 115 basis points (bps) over UK gilts

Shamsuddin Mohd, Reuters News

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Saudi Arabia's sovereign wealth fund, The Public Investment Fund, expects to raise 650 million pounds ($829.53 million) from the sale of a dual-tranche bond, fixed income news service IFR reported on Tuesday.

PIF, which manages more than $700 billion in assets, has set the spread on the 5-year note tranche at 115 basis points (bps) over UK gilts, and at 125 bps over for the 15-year tranche, IFR said.

The deal attracted more than 3.4 billion pounds of demand, with pricing and allocation expected later on Tuesday, IFR added. ($1 = 0.7836 pounds)

(Reporting by Shamsuddin Mohd; Editing by Kirsten Donovan)

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