Saudi Borrowing Spree Accelerates as PIF Debuts Euro Green Bond

Saudi Arabia’s sovereign wealth fund mandated banks for its first euro-denominated green bond sale, signaling no let up in the recent wave of borrowing activity aimed at financing the kingdom’s economic transformation plans.

The Public Investment Fund is looking to sell notes in three and seven year tranches, according to a person familiar, who asked not to be identified discussing private information. It would be the fund’s first sale of notes done in euros and its only green bond sale so far this year.

Any final sale would follow a $2 billion dollar bond issuancelast month and come ...