Saudi Arabia's PIF secures a $15B revolving credit facility from 23 global banks for corporate purposes and diversified funding.

Saudi Arabia's Public Investment Fund (PIF) obtains a $15 billion revolving credit facility from a global consortium of 23 financial institutions, replacing the 2021 agreement. The credit, with an initial 3-year term and potential 2-year extension, involves banks from Europe, US, Middle East, and Asia. The funds will be used for corporate purposes and help diversify PIF's funding sources, playing a key role in Saudi Arabia's economic transformation.

August 28, 2024
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