PIF repays $10 bln bridge loan to 10 banks

14/08/2020 Argaam



The Public Investment Fund (PIF) repaid a $10 billion syndicated loan facility with a group of international lenders, the fund said in a statement on Friday.  
 

The Kingdom’s sovereign wealth fund secured the loan in October 2019 to accelerate the implementation of its investment program, Argaam earlier reported. 
 

The bridge loan will be repaid following completion of the agreed sale of PIF’s stake in Saudi Basic Industries Corporation (SABIC) to Saudi Aramco. 

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