Saudi Arabia's PIF raises $17b in loan refinancing

Saudi Arabia's PIF raises $17b in loan refinancing

Riyadh, Saudi Arabia. Photo by Hala AlGhanim on Unsplash

Saudi Arabia’s sovereign wealth fund said on Wednesday it had secured a $17 billion loan from a group of 25 banks that will partly refinance a loan it took out in 2018.

The Public Investment Fund (PIF) raised $11 billion in 2018 via a five-year loan from 15 banks, which “will be repaid early,” PIF said.

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