{"id":83787,"date":"2024-02-27T00:00:00","date_gmt":"2024-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/27\/pif-has-hired-hsbc-goldman-stanchart-to-advise-on-second-sukuk-of-2024\/"},"modified":"2024-02-27T00:00:00","modified_gmt":"2024-02-27T00:00:00","slug":"pif-has-hired-hsbc-goldman-stanchart-to-advise-on-second-sukuk-of-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/27\/pif-has-hired-hsbc-goldman-stanchart-to-advise-on-second-sukuk-of-2024\/","title":{"rendered":"PIF has hired HSBC, Goldman, StanChart to advise on second sukuk of 2024"},"content":{"rendered":"

The Public Investment Fund plans to offer a senior, unsecured seven-year sukuk<\/strong> as it taps the debt market for a second time this year, Reuters<\/a> reported yesterday, saying it has seen a document sent to the advisors tapped to lead the transaction. <\/p>\n

ADVISORS- PIF has hired our friends at HSBC alongside Goldman Sachs and Standard <\/strong>Chartered<\/strong> as joint global coordinators for the offering. The size of the offering and its timeline remains unknown; it\u2019s not clear when the bankers plan to take PIF on the road for the sale.<\/p>\n

BACKGROUND- <\/strong>The PIF tapped the debt market last month, raising USD 5 bn<\/a> from an offering that was more than 5x oversubscribed, with global institutional investors placing orders worth USD 27 bn.<\/p>\n

REMEMBER- <\/strong>The PIF closed in October<\/a> a USD 3.5 bn global sukuk issuance, two green bond<\/a>offerings<\/a> totaling USD 8.5 bn between 2022 and 2023, and lined up<\/a> a USD 17 bn corporate facility in 2022. The fund plans to ramp up annual deployment capacity to USD 70 bn a year starting 2026, fund governor Yasir Al Rumayyan said at the FII Priority conference in Miami last week. This is a big step-up from its current annual spending clip of USD 40-50 bn. <\/p>\n

PIF is looking to continue a heavy pace of investment <\/strong>even as the price of oil remains tepid and officials pace out some aspects of gigaprojects originally slated to wrap by 2030. The fund recently unveiled Alat<\/a>, its advanced-technology manufacturing platform, which plans to invest USD 100 bn<\/a> in the field through 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"

PIF last went to the debt market in January, raising USD 5 bn from an offering that was more than 5x oversubscribed<\/p>\n","protected":false},"author":1,"featured_media":83788,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[57,10,456,2587,154,2588],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-ksa","tag-goldman-sachs","tag-hsbc","tag-pif","tag-standard-chartered","wpautop","entry"],"acf":{"mongo_id":"37a7d244-11b0-45fc-b386-256165dc5333","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2625.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF has hired HSBC, Goldman, StanChart to advise on second sukuk of 2024","related_issue":[83784],"teaser":"PIF last went to the debt market in January, raising USD 5 bn from an offering that was more than 5x oversubscribed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.3bb88708-9ac6-4f93-b71f-1bb9d9c57e4d.mp3"},"yoast_head":"\nPIF has hired HSBC, Goldman, StanChart to advise on second sukuk of 2024 - 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