Latest news with #GlobalCapitalFinance
Gulf Business
28-01-2025
- Business
- Gulf Business
Saudi Arabia's PIF completes $4bn bond issuance
Saudi Arabia's Public Investment Fund (PIF) has announced the successful completion of a $4bn Reg S bond issuance. The proceeds will be used for general corporate purposes. The international bond offering, which is part of PIF's Euro Medium-Term Note Programme, was four times oversubscribed, with an order book totaling approximately $16bn. The issuance consists of two tranches: $2.4bn (SAR9bn), maturing in five years $1.6bn (SAR6bn), maturing in nine and a half years PIF bond oversubscribed The strong oversubscription highlights the effectiveness of PIF's capital-raising strategy. The issuance further reinforces PIF's robust financial standing and its adherence to best practices in debt financing. Ahmed Alrobayan, head of Public Markets, Global Capital Finance at 'These factors allow uninterrupted access to the global capital markets and support PIF's efforts in driving Saudi Arabia's economic transformation.' PIF holds an Aa3 rating from Moody's with a stable outlook, and an A+ rating from Fitch, also with a stable outlook. The
Zawya
28-01-2025
- Business
- Zawya
PIF announces pricing of $4bln bond offering
Investor demand reflects PIF's strong financial position RIYADH – PIF today announced that it has successfully completed the pricing of a $4 billion Reg S bond issuance. Proceeds from the issuance will be utilized for general corporate purposes. The international bond offering is part of PIF's Euro Medium-Term Note Program and was four times oversubscribed, with an order book of approximately $16 billion. The issuance comprised of two tranches: $2.4 billion, (SAR 9 billion), five years $1.6 billion, (SAR 6 billion), 9 1/2 years The oversubscription reflects the effectiveness of PIF's capital raising strategy and affirms PIF's key role in driving Saudi Arabia's economic transformation. It also underpins PIF's strong financial position, as well as its best practice approach to debt financing. Ahmed Alrobayan, Head of Public Markets, Global Capital Finance, at PIF, said: 'Continued strong demand from international institutional investors is testament to PIF's diversified investor base, robust medium-term capital raising strategy and strong credit profile. These factors allow uninterrupted access to the global capital markets and support PIF's efforts in driving Saudi Arabia's economic transformation.' PIF is rated Aa3 by Moody's with a stable outlook and A+ by Fitch, also with a stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments. -Ends- About PIF PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment. And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future. Since 2017, PIF has established 99 companies and is driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia. For more information, visit the website at Rupert Trefgarne: rtrefgarne@
