PIF Contemplates Short Term Bridge Loan
Posted on 04/14/2019
Saudi Arabia’s Public Investment Fund (PIF) is in discussions with large banks to finance a short-term bridge loan to invest in new assets and other corporate purposes. The loan facility could be as much as up to US$ 8 billion. PIF’s proceeds from the 70% stake sale of SABIC to Saudi Aramco is expected to close in 2020. The loan could be repaid when PIF receives the proceeds from the stake sale.
In 2018, PIF took out an US$ 11 billion international syndicated loan.