Riyadh – Mubasher: The Public Investment Fund (PIF) has obtained a $15 billion revolving credit facility for general corporate purposes, according to a press release.
This funding, which replaces the previous $15 billion revolving credit facility agreed in 2021, is offered for an initial period of three years and is extendable for up to two additional years.
Meanwhile, the facility agreement was signed with a diverse global syndicate of 23 financial institutions from Europe, the US, the Middle East, and Asia.
It reflects PIF's strong credit rating as well as robust demand from the Saudi fund’s relationship banks and financial institutions.
PIF is currently rated A1 by Moody’s with a positive outlook and A+ by Fitch with a stable outlook.
In June, PIF priced its GBP 650 million sterling-denominated bond, which was oversubscribed by more than 600%.
