by Mary-Katherine Stinson
Lexington, Ky., Jan. 23 – GACI First Investment Co. priced a $5 billion tripart benchmark senior notes offering, according to a notice.
The guarantor will be the Public Investment Fund.
The sale consisted of $1.75 billion of five-year notes which priced at 99.216, $1.75 billion of 10-year notes which priced at 97.684 and $1.5 billion of 30-year notes which priced at 86.618.
J.P. Morgan Securities plc, Citi and Goldman Sachs are leading the sale, with the notes to be listed in London.
GACI First Investment is an offshore SPV fully owned by Saudi Arabia’s Sovereign Wealth Fund, PIF, which guarantees the SPV’s payment obligations.
| Issuer: | GACI First Investment Co.
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| Guarantor: | Public Investment Fund
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| Amount: | $5 billion
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| Issue: | Senior notes
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| Bookrunners: | J.P. Morgan Securities plc, Citi and Goldman Sachs
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| Five-year notes
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| Amount: | $1.75 billion
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| Tenor: | Five years
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| Price: | 99.216
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| 10-year notes
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| Amount: | $1.75 billion
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| Tenor: | 10 years
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| Price: | 97.684
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| 30-year notes
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| Amount: | $1.5 billion
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| Tenor: | 30 years
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| Price: | 86.618
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