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.
