Saudi Said to Agree Terms on $10 Billion Loan to Fund Deficit - Bloomberg

Saudi Said to Agree Terms on $10 Billion Loan to Fund Deficit - Bloomberg:

"Saudi Arabia has agreed terms with banks for its first sovereign loan in at least 15 years, three people with knowledge of the matter said.
The government will pay lenders about 120 basis points above the London interbank offered rate including margin and fees for the $10 billion facility, the people said, asking not to be identified as the information is private. The loan will have a tenor of five years and should be signed before the end of April, the people said.
A large group of U.S., European, Japanese and Chinese banks are lending the funds, the people said. Saudi Arabia’s initial request for as much as $8 billion was significantly oversubscribed, allowing the country to increase the size of the deal, the people said."



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