El Fondo de Riqueza Soberana de Arabia Saudita emitirá la primera deuda en dólares desde la guerra con Irán

Golden Finance reports that on May 7th, the Saudi Public Investment Fund is issuing multiple dollar bonds, indicating that Gulf region issuers are returning to the public markets after market turmoil triggered by the Iran conflict. Sources familiar with the matter revealed that this sovereign wealth fund is issuing benchmark dollar bonds with maturities of 3, 7, and 30 years, with initial price guidance 130 to 170 basis points above U.S. Treasuries, and final terms are expected to be announced later on Thursday evening. This issuance coincides with the tentative restart of the Middle Eastern primary market. Previously, the National Bank of the United Arab Emirates recently completed an additional Additional Tier 1 (AT1) capital bond transaction, and First Abu Dhabi Bank also completed an Islamic bond issuance on Wednesday. These transactions mark a turning point in the market, which had previously shifted towards private placements for funding amid increasing geopolitical uncertainties. The Saudi Public Investment Fund’s bond issuance will test investors’ risk appetite for longer-term assets in the Gulf region, especially the 30-year tranche, and help re-establish pricing benchmarks for regional borrowers after weeks of subdued syndicated financing activity. (Dongxin News)