PIF to close $10bn loan in Sept, tighter than debut

Public Investment Fund (PIF), Saudi's sovereign wealth fund, is expected to close its second ever debt offering in September, according to bankers close to the deal. Some say the bridge loan, which is a reprieve to EM bankers that have been operating in a barren market all year, may receive tighter margins than PIF's competitively-priced debut loan in September 2018.