LONDON: Saudi Arabia’s Public Investment Fund plans to issue benchmark-sized bonds in three tranches, fixed-income news service IFR said on Thursday, as the sovereign wealth fund returns to debt markets to help finance the Kingdom’s economic diversification.
Initial price guidance was set at around 130 basis points over US Treasuries for a three-year bond, 135 bps over for a seven-year tranche and 170 bps over for 30-year paper, IFR said. The bonds are expected to price later on Thursday.
Citi, Goldman Sachs International, HSBC and J.P. Morgan are acting as joint global coordinators.
PIF last tapped debt markets in January, raising $2 billion from 10-year Islamic bond sale.
The fund, which…