Wed 30/April/2025 – 06:34 PM
A document issued today, Wednesday, by one of the banks arranging the issuance of the Saudi Public Investment Fund, a seven -year -old bonds, that the sovereign wealth fund for the Kingdom expects $ 1.25 billion in the sale of these sukuk.
Saudi Investment Fund instruments
The return on bonds is determined at 110 basis points above the US Treasury, which is less than 145 basis points above the same standard that was specified earlier in the day. The document issued by the bank, which leads the issue, indicated that the bonds have attracted requests for more than nine billion dollars.
The sovereign wealth fund resorted to investors in bonds for the second time this year, as it continues to pump billions of dollars in an ambitious program to reduce the economy’s dependence on oil, according to Reuters.
Saudi public budget needs
The International Monetary Fund estimates and economists indicate that Saudi Arabia needs that oil prices exceed $ 90 a barrel to achieve balance in the budget. Brent crude recorded $ 63.48 a barrel by 1300 GMT.
The last time was that the Public Investment Fund for the debt markets resorted to January, and raised four billion dollars from a two -slicing.
Reuters last week quoted sources as saying that Gulf issuance agencies, including the Saudi sovereign wealth fund, which has a value of 925 billion dollars, is preparing for a series of bond issuance despite the fluctuations of the market caused by the policies of US President Donald Trump on customs duties.
