Saudi sovereign fund in talks with banks to extend $15b loan

Saudi sovereign fund in talks with banks to extend $15b loan

Saudi Crown Prince Mohammed bin Salman arrives for the start of the "Meeting of the Ministers of the Global Coalition to Counter ISIL: Joint Plenary Session" at the State Department in Washington, U.S., July 21, 2016. REUTERS/Joshua Roberts

Saudi Arabia’s sovereign wealth fund is in talks with banks to exercise an extension option on a $15 billion revolving credit facility it took out in March last year, two sources with direct knowledge of the matter said.

The Public Investment Fund’s one-year loan was provided by 17 banks and has four extension options.

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