PIF signs $15bln revolving credit facility
Summary
The facility agreement was signed with a diverse global syndicate of 23 international financial institutions Loans and debt instruments represent one of PIFs four sources of funding.RIYADH: PIF has obtained a $15 billion revolving credit facility for general corporate purposes. The facility agreement was signed with a diverse global syndicate of 23 financial institutions from Europe, the U.S., the Middle East and Asia.The financing reflects PIFs strong credit rating as well as robust demand from PIFs relationship banks and financial institutions. PIF is currently rated A1 by Moodys with a positive outlook and A+ by Fitch with a stable outlook.PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment.And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future.Since 2017, PIF has established 95 companies and injects at least SAR 150 billion into the local economy each year. Through strategic investments and partnerships across the Saudi public and private sector, PIF is driving the transition to a more sustainable economy, and laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.For more information, visit the website at www.pif.gov.sa