Saudi wealth fund seeks up to $7 billion loan for investments
Photo via Bloomberg
Published 03 Dec,2020 via Bloomberg Markets - Saudi Arabia’s sovereign wealth fund plans to raise as much as $7 billion in loans as it seeks cash for new investments, according to people familiar with the matter.
The Public Investment Fund has approached international banks to participate in the multi-currency revolving facility of between $5 billion and $7 billion, the people said, asking not to be identified as the information is private. The PIF aims to complete the fundraising early next year and use the cash for opportunistic investments, they said.
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