Saudi's PIF aims to raise between $6-8 bln in first loan -sources | Reuters

Saudi's PIF aims to raise between $6-8 bln in first loan -sources | Reuters:

Saudi Arabia’s top sovereign wealth fund is seeking to raise between $6 and $8 billion from banks as it seeks to boost its firepower to help finance the kingdom’s economic transformation plans, according to sources familiar with the matter.

The Public Investment Fund (PIF) issued a request for proposals to banks several weeks ago about raising money for a syndicated loan, said two of the sources, with a third adding the deal is not expected to close before September.

A spokesman for PIF declined to comment.