Saudi wealth fund in talks to raise up to $8 bln bridge loan -sources - Reuters:
Saudi Arabia’s Public Investment Fund (PIF) is in talks with banks to raise a short-term bridge loan for as much as $8 billion to use for new investments, two sources said.
The sovereign wealth fund finalised a deal last month to sell its 70 percent stake in Saudi Basic Industries (Sabic) to Saudi Aramco for $69.1 billion.
Proceeds from the Sabic deal, which Saudi Aramco has said is expected to close in 2020, could take a few months to come through to PIF, while a document seen by Reuters said the oil giant will pay for the deal in tranches.
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