The Clap
The Saudi Public Investment Fund (PIF) is expected to issue green bonds for the first time in the international debt markets next week.
The Deets
According to Reuters, the PIF has been monitoring the market for months in order to find the right opportunity to issue green bonds.
This opportunity will likely arise next week or in October, depending on market conditions.
Sources expect the issuance to raise billions of dollars, as the participating banks are expected to have lent to the PIF before.
Green Bonds
Green bonds are bonds with the aim of obtaining funds allocated to finance environmentally friendly projects and supporting sustainable development policies.
Background
Last February, the fund unveiled a framework for green finance directing the net proceeds from the sale of bonds to renewable energy projects, clean transportation, and green buildings.
PIF could issue green bonds ♻️
