Saudi's Public Investment Fund says it closes $11 billion debut loan | Reuters:
Saudi Arabia’s Public Investment Fund said on Monday it had taken out an $11 billion international syndicated loan, the first commercial borrowing by the kingdom’s top sovereign wealth fund.
“This is the first step in incorporating loans and debt instruments into PIF’s long-term funding strategy,” the fund’s managing director Yasir al-Rumayyan said in a statement.
He added that the PIF would “develop into one of the most prominent users of banking services in the region”.
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