Riyadh – Mubasher: Saudi Arabia's Public Investment Fund (PIF), the kingdom's main sovereign wealth fund, is looking to obtain between $6 billion and $8 billion from lenders in the coming period.
This facility will be injected into implementing the GCC nation’s economic transformation plans, sources familiar with the matter told Reuter.
In the previous weeks, the PIF asked banks to present their offers regarding a syndicated loan, two sources stated, while a third source expected that the deal will not be finished before September. A spokesperson for the Saudi investment body declined to comment.
On Thursday, 12 July, informed sources said that PIF is negotiating with banks to obtain its first facility.
It is worth noting that the Saudi fund is seeking to raise its assets to SAR 1.5 trillion ($400 billion) by 2020.
