Saudi Wealth Fund May Double Loan to $15 Billion for Deals - Bloomberg
Saudi Arabia’s sovereign wealth fund may raise a loan that’s more than double what it sought late last year for new investments following strong demand from lenders, according to people familiar with the matter.
The Public Investment Fund is set to increase the loan size to as much as $15 billion from an initial plan to raise $5 billion to $7 billion, the people said, asking not to be identified as the information is private. The fund is looking to agree on terms with banks in the next few weeks and a final decision on the size hasn’t yet been made, they said.
The PIF declined to comment.
The $400 billion sovereign investor is key to the kingdom’s efforts to revive economic growth after what may be the deepest recession the world’s largest crude exporter has experienced in decades. Handed $40 billion earlier this year to buy global stocks, the PIF plans to plow the same amount into the domestic economy next year and again in 2022.
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