NEOM secures SAR10bn revolving credit facility from major Saudi banks for infrastructure and expansion.
Saudi Arabia's NEOM, the futuristic city project, secured a SAR10bn (~$2.67bn) revolving credit facility with support from major Saudi banks. The Murabaha-structured RCF will bolster NEOM's liquidity and aid infrastructure and project expansion, aligning with the Saudi Vision 2030. This financing move demonstrates market confidence in NEOM's strategic direction and diversification of funding sources.
April 28, 2024
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