Saudi Wealth Fund to Sell First Dollar Bonds Since Iran War

Saudi Arabia’s Public Investment Fund is selling a multi-tranche US dollar bond, a sign Gulf issuers are returning to public markets after disruption tied to the Iran conflict.

The sovereign wealth fund is offering three-year, seven-year and 30-year US dollar benchmark bonds, according to a person familiar with the matter. Initial price thoughts are at 130 to 170 basis points over US Treasuries, with the final terms expected to be disclosed later Thursday, the person said.