Saudi Wealth Fund Eyes Bond Sales, IPOs to Finance Spending Ambitions
- PIF is considering more bond sales, IPOs for portfolio firms
- Cash reserves have dropped to $15 billion, lowest since 2020
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Saudi Arabia’s sovereign wealth fund is considering plans to accelerate debt sales or obtain bank loans as it hunts for new sources of cash to help pay for Crown Prince Mohammed bin Salman’s trillion-dollar economic transformation project.
The Public Investment Fund could also line up equity offerings in its portfolio companies as part of the push, according to people familiar with the matter. The moves come as the fund’s cash reserves have dropped to $15 billion as of September — the lowest level since 2020, the earliest year for which data is available.