{"id":98122,"date":"2025-06-24T00:00:00","date_gmt":"2025-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/24\/pif-launches-its-first-commercial-paper-program\/"},"modified":"2025-06-24T00:00:00","modified_gmt":"2025-06-24T00:00:00","slug":"pif-launches-its-first-commercial-paper-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/24\/pif-launches-its-first-commercial-paper-program\/","title":{"rendered":"PIF launches its first commercial paper program"},"content":{"rendered":"

<\/strong>The Public Investment Fund (PIF) launched its first commercial paper (CP) <\/strong>program<\/strong>, comprising a US CP and a Euro CP sub-programs, it said in a press release<\/a> yesterday. The program, which permits CP issuance via offshore special-purpose vehicles, is rated P-1 by Moody\u2019s and F1+ by Fitch. The timeline of the program was not disclosed.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

SOUND SMART-<\/strong> Commercial paper is a short-term debt instrument that companies or financial entities use to raise working capital by selling unsecured promissory notes. This instrument is commonly used to finance day-to-day operations. <\/p>\n

Behind the CP program:<\/strong> The upcoming issuances under the program are expected to enhance PIF\u2019s short-term financing flexibility and long-term capital-raising efforts, the statement said.<\/p>\n

The sovereign wealth fund has been ramping up its debt issuances in 2025<\/strong>, closing a USD 1.25 bn<\/a> sukuk issuance last month, which was 6.5x oversubscribed and received over USD 9 bn in orders. It also issued USD 4 bn<\/a> in bonds in January, which was nearly 4x oversubscribed and had an order book of approximately USD 16 bn. Over the same month, the fund completed a USD 7 bn<\/a> murabaha credit facility as part of its medium-term capital raising strategy.<\/p>\n

What they said:<\/strong> \u201cThe establishment of our CP program reflects the continued strength and depth of PIF\u2019s capital raising strategy; one that is dynamic, resilient, and fit for purpose, aligning funding solutions with our long-term investment priorities,\u201d PIF\u2019s Head of Global Capital Finance Fahad Al Saif said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuances will take place through offshore special-purpose vehicles<\/p>\n","protected":false},"author":1,"featured_media":98123,"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":[4350,57,10,1151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-commercial-paper-cf","tag-debt-watch","tag-enterpriseam-ksa","tag-public-investment-fund-pif","wpautop","entry"],"acf":{"mongo_id":"057a5a0b-b250-4891-a65c-a639e3014d81","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/2116.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF's inaugural commercial paper program is now underway","related_issue":[98110],"teaser":"The issuances will take place through offshore special-purpose vehicles","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.6e5f7228-cb50-449d-9ee3-1d8372315a97.mp3"},"yoast_head":"\nPIF launches its first commercial paper program - 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