RIYADH: Saudi Arabia’s Public Investment Fund has priced its inaugural sterling bond offering of £650 million ($829.80 million) under its existing Euro Medium-Term Note program.

The issuance is part of PIF’s strategy to continually diversify its funding sources. 

The offering, which was more than six times oversubscribed, includes a £300 million tranche with a five-year coupon and a £350 million tranche with a 15-year coupon. 

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