Saudi PIF MD says plans to borrow via debt twice this year-CNBC - Reuters:
The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, will raise money through debt twice this year including foreign currency borrowings, its managing director told CNBC.
“I think it’s going to be in the neighbourhood of 14 billion Saudi riyals ($3.73 billion) and for the U.S. dollar I think it’s going to be north of $8 or $10 billion,” Yasir al-Rumayyan said in an interview at a conference in Los Angeles on Tuesday.
Last year the fund raised an $11 billion international syndicated loan, its first commercial borrowing, and sources told Reuters this month it has been in talks with banks to raise a short-term bridge loan for as much as $8 billion to use for new investments. Recently a fund executive said he the PIF is no hurry to issue a bond.
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