Saudi SWF seeks massive bank loan as Aramco’s IPO is delayed
PIF intends to increase assets to $400 billion in 2020 from $224 billion in 2017
Saudi Arabia’s sovereign wealth fund (SWF), the Public Investment Fund, is seeking to agree a major loan with international banks.
According to the Financial Times, the PIF is negotiating a syndicated loan amounting to $11 billion. The initial objective was $8 billion, but the loan has been oversubscribed, the report says. This operation would support the PIF in its plans to sharply increase its portfolio over the next few years.
The Saudi government has been effectively led by Mohammad bin
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