Saudi Wealth Fund Sells First Dollar Bonds Since Iran War

Saudi Arabia’s Public Investment Fund saw strong demand for its $7 billion sale of dollar bonds, a sign that investors are keen on the return of Gulf issuers to public markets after disruptions during the Iran conflict.

The sovereign wealth fund’s issuance of three-, seven- and 30-year notes attracted peak orders of more than $24 billion excluding lead managers’ interest on Thursday, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly.