Finance
Saudi Fund Broadens Cash Quest to Meet MBS’ Spending Goals
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Saudi Arabia’s wealth fund is set to tap a broader array of investors and pursue debt sales through its subsidiaries, as it grapples with the scale of the kingdom’s spending ambitions.
The Public Investment Fund is weighing a debut euro-denominated bond this year and plans to tap onshore US investors for the first time, according to people familiar with the matter. It’s also encouraging subsidiaries to borrow independently, with Neom Co. and AviLease among firms potentially issuing debt, some of the people said, declining to be identified discussing confidential information.