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  • 01-12-22

    KSA’s PIF secures world’s first USD17B seven-year business loan

    (MENAFN) Saudi Arabia’s Public Investment Fund has confirmed that it has collected an additional USD17 billion seven-year senior unsecured term loan, as said in an announcement.

    The loan is the biggest-of-its-form general business purpose loan globally and was double oversubscribed.

    The additional loan comes along with the sovereign wealth investments plan of expanding its investments provisions in an effort to supply impactful funds in the nation and worldwide.

    The fresh loan also falls in line with the PIF’s medium-term capital surging plan in addition to its “2022 Annual Capital Raising Plan”.

    “It is a significant achievement for PIF, raising a record-sized term facility in the longest tenor ever for a loan of its size that is subscribed to by an unprecedentedly diversified number of lenders. PIF will continue to explore a variety of debt funding sources as it delivers on its strategic objectives,” according to Chief of Global Capital Finance Division at PIF Fahad AlSaif.

    MENAFN01122022000045014228ID1105252706

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