#Saudi wealth fund to raise more than $10 billion with loan - sources | Reuters

Saudi wealth fund to raise more than $10 billion with loan - sources | Reuters

Saudi Arabia’s sovereign wealth fund may raise $10 billion or more through a revolving loan, exceeding what it initially targeted, sources said, as the Public Investment Fund (PIF) seeks extra liquidity to fund its plans.

The fund, which is the engine of Crown Prince Mohammed bin Salman’s economic transformation plans for Saudi Arabia and manages a portfolio worth $400 billion, has boosted its firepower by tapping several funding sources in recent years.

PIF, which declined to comment, is raising the new facility for general corporate use, the sources told Reuters.

It has been in talks with banks since late last year about a loan facility, its third such debt raising since 2018, which it initially targeted at $7 billion.