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- The sukuk will be listed on the London Stock Exchange鈥檚 International Securities Market
- PIF鈥檚 Ahmed Alrobayan said: 鈥楾he strong investor demand for this new sukuk offering underscores PIF鈥檚 robust credit profile鈥�
RIYADH: The Public Investment Fund on Thursday announced the pricing of a $1.25 billion sukuk offering, with the proceeds of the dollar-denominated offering to be used for PIF鈥檚 general corporate purposes.
The seven-year sukuk was more than 6.5 times oversubscribed, with orders exceeding $9 billion, according to a media statement.
The sukuk will be listed on the London Stock Exchange鈥檚 International Securities Market as part of PIF鈥檚 international sukuk issuance program.
Ahmed Alrobayan, head of public markets, global capital finance, at PIF, said: 鈥淭he strong investor demand for this new sukuk offering underscores PIF鈥檚 robust credit profile, along with its role as a key driver of 萝莉视频鈥檚 economic transformation.鈥�
The transaction represents a continuation of the established and diversified financing strategy, which draws strong support from international investors, Alrobayan said.
PIF鈥檚 long-term capital-raising strategy includes a diverse range of instruments, including sukuk and bond programs.
PIF has completed its inaugural murabaha credit facility since earlier this year, and last August renewed a revolving credit facility.
PIF is rated Aa3 by Moody鈥檚 with a stable outlook, and A+ by Fitch, also with a stable outlook.