PIF prices inaugural sterling bond offering of $829m

RIYADH: Saudi Arabia’s Public Investment Fund has priced its initial offering of sterling bonds at 650 million pounds ($829.80 million) under its existing medium-term euro bond program. The issue is part of PIF’s strategy to continuously diversify funding sources. The offer, which was outbid more than six times, includes a £300m tranche with a five-year coupon and a £350m tranche with a 15-year coupon.

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