Money and business

Public investments announces the completion of a $ 1.25 billion bonds

The Public Investment Fund has announced the completion of a pricing of $ 1.25 billion (equivalent to approximately 4.7 billion riyals), and the revenues of the offering in the dollar will be directed for the public fund’s purposes.

The coverage rate exceeded 6.5 times the total version, while the total number of subscription requests reached more than 9 billion US dollars (approximately 33.7 billion riyals).
The Sukuk in this offering is 7 years, and will be included in the International Securities Market on the London Stock Exchange as part of the International Sukuk of the Public Investment Fund.

High demand from international investors

Ahmed Al -Rubaian, Director of Public Markets in the General Administration of Global Investment Finance in the Public Investment Fund, said:

The long -term general investment fund strategy includes a variety of financing tools, including sukuk and bond programs, as well as murabaha structure and rotating credit facilities.

The Fund carries a credit rating in the AA3 category with a “stable” future look from the Moody’s Credit Class Agency, and also carries a “Fitch” Agency with a “stable” look.

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