Saudi SWF Arranges $15 Billion Credit Facility

Posted on 03/10/2021

Saudi Arabia’s Public Investment Fund (PIF) arranged a US$ 15 billion multi-currency credit facility with a group of international banks. A revolving facility allows the borrower to draw down and repay parts of the facility during the duration of the loan arrangement. The banks were BNP Paribas, Bank of America, Citi, Credit Agricole, Credit Suisse, Deutsche Bank, First Abu Dhabi Bank, Goldman Sachs, HSBC, Intesa Sanpaolo, JPMorgan, Mizuho, Morgan Stanley, Natixis, SMBC, Societe Generale, and Standard Chartered.

“The multi currency revolving facility reflects PIF’s prudent asset-liability management and flexibility, and forms part of its diverse and sustainable funding strategy within the Vision Realization Programs (VRP),” a statement from PIF said.

“The facility provides PIF with access to additional capital that can be deployed at speed when convenient,” the PIF said.

“PIF continues to act as a partner of choice globally, and will continue to drive the economic diversification of Saudi Arabia, investing SAR150bn ($40 billion) into the domestic economy per year,” it added.

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