Huge Saudi fund to be conservative borrower, chief says

Huge Saudi fund to be conservative borrower, chief says:

"Saudi Arabia’s Public Investment Fund will be a conservative borrower when it enters international debt markets to obtain leverage for its expansion, the fund’s managing director Yasir al-Rumayyan said on Wednesday. The PIF, with assets of $224 billion, is being built into a key instrument of Saudi policy, investing at home to develop the economy and abroad to increase returns on the kingdom’s oil wealth. It aims to expand to $400 billion by 2020. In addition to obtaining capital injections and assets from the government, plus retained earnings, it plans to fund itself with loans, bonds or a combination of the two - raising the prospect of a big new debt issuer in international markets."



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