The bonds were launched at 85 basis points over U.S. Treasuries
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Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has launched $2 billion dollar-denominated 7-year Islamic bonds or sukuk, according to an arranging bank document seen by Reuters.
The bonds were launched at 85 basis points over U.S. Treasuries, tighter than the initial guidance of 115 bps over the same benchmark after the offer received a more than $16 billion in orders, the document showed. (Reporting by Shamsuddin Mohd; Editing by Kim Coghill)
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