Saudi Arabia’s PIF selling three-tranche dollar green bonds: IFR

Saudi Arabia’s Public Investment Fund is selling three-tranche U.S. dollar-denominated green bonds in tranches of seven, 12 and 30 years, fixed income news service IFR said on Tuesday.
Initial price guidance was around 145 basis points (bps) over 3.5% U.S. Treasuries for the seven-year tranche, around 175 bps over 4.125% UST for the 12-year paper and around 215 bps over 3% UST for the 30-year bonds, IFR said.
Goldman Sachs GS.N, JPMorgan JPM.N and Standard Chartered Bank STAN.L were hired as global coordinators for the debt sale expected to price later on Tuesday, IFR said. Each tranche will be of benchmark size, which typically means at least $500 million.