PIF make huge £2.7bn listing as Newcastle United chairman Yasir Al-Rumayyan lands in UK

Newcastle United non-executive chairman Yasir Al-Rumayyan was in the United Kingdom on Tuesday to attend the Market Open Ceremony at the London Stock Exchange.

Al-Rumayyan, governor of the Public Investment Fund of Saudi Arabia - who own 80 per cent of the Magpies - marked the listing of the first-ever 100-year green bond issuance by a sovereign wealth fund.

PIF’s £2.7billion issuance, issued in 3 tranches to be repaid in 2027, 2032 and 2122, will be displayed on the London Stock Exchange’s Sustainable Bond Market and was over eight times oversubscribed by investors.

Green bonds raise funds for new and existing projects which deliver environmental benefits, and a more sustainable economy. This highlights PIF’s commitment to supporting Saudi Arabia’s sustainability agenda by diversifying its economy and reaching Net Zero emissions by 2060.

Julia Hoggett, CEO, of the London Stock Exchange , said: “We congratulate PIF on becoming the first sovereign wealth fund to list a green bond.

“Green bonds are critical tools that enable issuers to achieve key sustainability objectives and the issuance reflects PIF’s commitment to contribute to Saudi Arabia’s green agenda.

“Climate change is the most urgent challenge of our lifetimes and, as the world’s most international financial centre, the London Stock Exchange is at the forefront of enabling capital flows to help fund the just transition to net zero.”

Andrew Griffith, Financial Secretary to the Treasury, UK Government added: ‘’I am delighted that the Public Investment Fund have chosen to list their inaugural green bond in London. This is a sign of confidence in the UK as a global leader in sustainable finance.

“This launch of the first green bond by a sovereign wealth fund also highlights how the UK and its partners can work constructively on the sustainable finance agenda.”

Al-Rumayyan was in the capital just days after Newcastle United marked the one-year anniversary since the PIF-led takeover with a 5-1 win over Brentford.

The 52-year-old, however, wasn’t in attendance at St James’ Park and it is unclear if he will remain in the UK for the Magpies’ clash against Manchester United at Old Trafford on Sunday.