Saudi Arabia Sovereign Wealth Fund Seeks $10 Billion Margin Loan - Bloomberg:
Saudi Arabia’s sovereign wealth fund is planning to borrow about $10 billion by pledging some of its stakes in SoftBank Group Corp.’s technology investment vehicle to shore up liquidity, according to people familiar with the matter.
The Public Investment Fund, which has been on an overseas shopping spree recently, is speaking with investment banks about a margin loan backed by some of its investments in the $100 billion Vision Fund, the people said, asking not to be identified as the matter is private. While discussions with banks are ongoing, it may not materialize in a deal, and the fund may also decide against raising the loan, the people said.
The Saudi wealth fund declined to comment on the margin loans.
PIF is in need of capital as it embarks on an investment spree that has seen it build stakes in some of the world’s largest companies since the start of the coronavirus pandemic. On Friday, it disclosed stakes in companies including Facebook Inc., Boeing Co. and Citigroup Inc.
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