PIF Taps Debt Markets, Draws on Cash Reserves and Slashes Public Equity Positions to Prop Up Vision 2030

With its cash resources squeezed by huge investments ranging from gigaprojects to sports, Saudi Arabia’s Public Investment Fund (PIF) is set to tap debt markets for a fourth time this year.PIF is marketing a three-year sukuk (shariah-compliant bond) and a 2032 green bond, according to Reuters. The sukuk’s spread is...