PIF Raises US$ 3.5 Billion In Islamic Bond Sale

Posted on 10/19/2023

Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) raised US$ 3.5 billion through the sale of Islamic bonds. PIF offered US$ 2.25 billion in 5 year Islamic bonds at 120 basis points over U.S. Treasuries and US$ 1.25 billion in 10 year bonds at 140 bps over Treasuries. PIF five year bonds, also known as sukuk, are trading 50 basis points above Saudi sovereign yields.

Get News, People, and Transactions, Delivered to Your Inbox