PIF launches $4bn 2-part bond

PIF manages $925 billion in assets. File
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Updated 14 July 2025
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PIF launches $4bn 2-part bond

RIYADH: Saudi Arabia’s Public Investment Fund has launched a $4 billion two-part bond, Arab News has been told.

The sovereign wealth fund confirmed that it had sold $2.4 billion of five-year debt instruments at 95 basis points over US Treasuries and $1.6 billion of nine-year securities at 110 basis points over the same benchmark.

The move comes just weeks after PIF closed its first Murabaha credit facility, securing $7 billion in funding, in what was a key step in the fund’s plan to raise capital over the next several years. 

PIF, widely recognised to be Saudi Arabia’s vibrant economic engine, is currently spearheading the nation’s economic diversification efforts, aligned with the goals outlined in Vision 2030. 

PIF manages $925 billion in assets, and is set to increase that to $2 trillion by 2030, a report from monitoring organization Global SWF forecast earlier in January.

Moody’s upgraded the rating of PIF in November, raising it from A1 to Aa3 with a stable outlook, reaffirming the fund’s strong financial position.

The US-based agency gives Aa3 for entities with high quality, low credit risk, and the best ability to repay short-term debts. 

According to Moody’s, the upgrade of PIF’s long-term issuer rating from A1 reflects strong credit linkage between the sovereign wealth fund and the Kingdom’s government. 

The Murabaha credit facility is supported by a syndicate of 20 international and regional financial institutions. 

In a statement at the time of its annoucement, PIF added that the closing of the Murabaha credit facility financing complements the fund’s successful sukuk issuances over the past two years, underscoring the body’s strong financial position and its best-practice approach to debt financing.

In August, PIF obtained a $15 billion revolving credit facility for general corporate purposes from a diverse global syndicate of 23 financial institutions from the US, Europe, and the Middle East as well as Asia. 

In a press statement, the wealth fund said that this credit facility is offered for an initial period of three years and is extendable for up to two additional years. 

A revolving loan is one that can be drawn, repaid and drawn again during the agreed lending period.


Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.