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FinancialNews
08-09-21
Saudi Arabia’s Public Investment Fund selects 5 banks for its medium-term capital-raising strategy
(MENAFN)According to International Financing Review report, Saudi Arabia’s Public Investment Fund, appointed five banks to be members of an environmental, social and governance panel for its medium-term capital-raising strategy.
The elected banks are Credit Agricole, Deutsche Bank, Goldman Sachs, HSBC and Standard Chartered.
In addition, PIF sent banks an appeal for proposals to convince the investment fund’s global capital finance division on an ESG framework for public market capital raising, based on information quoted from sources.
It further declared that PIF’s development of an ESG framework was likely a precursor for a multibillion-dollar debut bond sale.
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