Saudi wealth fund raises $3b with debut green bonds

Saudi wealth fund raises $3b with debut green bonds

FILE PHOTO: Cars drive past the King Abdullah Financial District, north of Riyadh, Saudi Arabia, March 1, 2017. REUTERS/Faisal Al Nasser/File Photo

Saudi Arabia‘s Public Investment Fund was set to raise $3 billion on Wednesday in its first foray into the debt capital markets, taking advantage of a brief period of calm to become the first sovereign wealth fund to issue green bonds.