Saudi Fund Said to Consider Loan of $3 Billion for Uber Deal - Bloomberg

Saudi Fund Said to Consider Loan of $3 Billion for Uber Deal - Bloomberg:

"Saudi Arabia’s sovereign wealth fund is weighing a loan of as much as $3 billion for its investment in Uber Technologies Inc., people with knowledge of the matter said.
The Public Investment Fund has held preliminary talks with local and international banks about borrowing between $2 billion and $3 billion, the people said, asking not to be identified as the plans are private. Talks are at an early stage and the PIF, as the Saudi fund is known, hasn’t yet decided whether to proceed with the loan, the people said.
The PIF is investing $3.5 billion in the ride-sharing service in its highest-profile overseas investment yet. The deal, announced on Wednesday, gives Managing Director Yasir Alrumayyan a board seat at the San Francisco-based company and also marks the biggest investment ever in Uber. The fund aims to boost its share of holdings abroad to about half by 2020, from five percent now. JPMorgan Chase & Co. advised the PIF on the Uber investment."



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