PIF, Engie Among Borrowers Fueling a Surge in Green Debt Sales

Borrowers from Saudi Arabia’s sovereign wealth fund to French energy firm Engie SA are turning to Europe for green funding as the market enjoys its busiest spell in nearly 18 months.

The Saudi Public Investment Fund has opened books on a debut sale of euro green debt, following hot on the heels of four issuers who raised green bonds in the currency on Monday, according to data compiled by Bloomberg. At current run rates that’s putting October on track to beat September’s €38.4 billion ($44.8 billion) of green issuance in Europe, the busiest month for sales of the debt since May 2024, the data show.