Saudi Wealth Fund Plans First Multi-Billion Dollar Loan - Bloomberg:
Saudi Arabia’s sovereign wealth fund has started approaching banks for its first-ever loan, aiming to establish a group of banks with which it will work on future deals, according to people familiar with the matter.
The Public Investment Fund, or PIF, has asked lenders to participate in a multi-billion dollar loan, the people said, asking not to be identified as the information is private. Lenders that participate in the deal will form the core banking group for the PIF, which has ambitions of becoming the world’s largest sovereign fund, the people said.
A spokesman for the PIF declined to comment.
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