Arab Energy Fund Secures $600M in Bond Sale Amidst Heavy Market Supply
The Arab Energy Fund, a multilateral banking institution headquartered in Riyadh, successfully sold $600 million worth of bonds despite the challenging market conditions.
The five-year notes, priced at the Secured Overnight Financing Rate plus 75 basis points, mature in February 2031.
The robust demand from investors allowed the fund to tighten pricing, resulting in strong interest and confidence in its credit profile.
Despite a busy week for new debt globally, with over 40 deals announced, TAEF managed to price the bonds about 20 basis points inside prevailing secondary levels.
This successful bond sale highlights the growing role of the Arab Energy Fund in financing the energy sector within the region.
The robust demand from investors allowed the fund to tighten pricing, resulting in strong interest and confidence in its credit profile.
Despite a busy week for new debt globally, with over 40 deals announced, TAEF managed to price the bonds about 20 basis points inside prevailing secondary levels.
This successful bond sale highlights the growing role of the Arab Energy Fund in financing the energy sector within the region.
