Economics
Saudi Bond Spree Continues as Wealth Fund Taps Dollar Market
- Country’s sovereign wealth fund sold $4 billion of notes
- Investor bids exceeded $16 billion across the tranches
The Public Investment Fund tower, center, in Riyadh, Saudi Arabia.
Photographer: Maya Siddiqui/BloombergThis article is for subscribers only.
Saudi Arabia’s bond spree continued Wednesday as its sovereign wealth fund sold $4 billion of debt.
The Public Investment Fund priced notes with maturities of five years and 9-1/2 years, according to a person familiar with the matter who asked not to be identified. The spread premiums above US Treasuries are respectively 95 and 110 basis points — both 30 basis points less than initial price talk.