Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) completed its first Murabaha credit facility at an amount of $7 billion, according to a press release.
As part of its medium-term capital-raising strategy, the financing structure was backed by a diverse syndicate of 20 international and regional financial institutions.
Fahad Al Saif, PIF’s Head of the Global Capital Finance Division, commented: “This inaugural Murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia.”
PIF is rated Aa3 by Moody’s with a stable outlook and A+ by Fitch with a stable outlook.
Last December, the Saudi fund acquired a 15% shareholding in FGP TopCo from Ferrovial SE.
