Saudi sovereign wealth fund issues first bonds

Saudi Arabia

Saudi Arabia’s sovereign wealth fund launched its first ever bond issue on October 5, marketing $3 billion in “green bonds”. In a statement, the Public Investment Fund said the issue attracted more than $24 billion in offers.

The PIF issued bonds with 5-year-, 10-year and 100-year maturities. They carry coupons of 5%, 5.25% and 5.375% respectively.

The fund said the bonds would “finance or refinance” investments in a variety of environmentally beneficial projects. These include “renewable

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