Formerly detained Saudi businessmen Alwaleed and Alhokair in talks for loans | ZAWYA MENA Edition:
"Two businessmen formerly detained a part of Saudi Arabia's anti-corruption campaign are now in talks with banks for loans for their firms in excess of $3 billion, sources said, suggesting that bank markets are open again for those who have reached financial settlements with the government.
Saudi Prince Alwaleed bin Talal's investment firm Kingdom Holding is in talks for a loan worth up to $1 billion, while Saudi fashion retailer Fawaz Abdulaziz Alhokair, whose major shareholder Fawaz Alhokair was also detained, is in discussions with banks for a loan of around 8 billion riyals ($2.13 billion).
Local banks are expected to provide most of the debt, while international banks appear to be more cautious given the lack of clarity over the terms of settlements the business figures reached with the Saudi authorities, banking sources said."
'via Blog this'
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