PIF announces the pricing of a $2 billion bond offering

• The offering was four times oversubscribed, with strong demand from a diversified range of institutional investors, reflecting PIF’s strong credit profile

PIF today announced the pricing of a $2 billion bond offering. Proceeds from the offering will be used for general corporate purposes.

The offering was more than four times oversubscribed, following strong momentum built up by reverse enquiries from investors, reflecting a high level of confidence in PIF’s credit profile.

The bond carries a tenor of 10 years and will be listed on the London Stock Exchange’s International Securities Market, as part of PIF’s international bond issuance program.

PIF’s medium term capital-raising strategy is built on diversified funding solutions, that include a range of instruments, such as bonds, sukuk and loans.

PIF is rated Aa3 by Moody’s with a stable outlook, and A+ by Fitch, also with a stable outlook.

PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, while driving the economic transformation of Saudi Arabia.