Saudi Arabia borrows $ 11 billion for the first time
09:57 - 12/09/2018
Information / Baghdad ..
Saudi Arabia's sovereign wealth fund will sign a $ 11 billion loan this week, making it the first ever borrowing, the Bloomberg website has revealed.
Some global lenders, including the Goldman Sachs Group, HSBC Holdings and JPMorgan Chase & Co., are offering the loan at a 75 basis point margin above the London Interbank Offered Rate (LIBOR) On the loan, or only from 90 basis points, including fees.
According to Reuters, the deal is the first commercial loan to the Public Investment Fund, which is mandated to contribute to the implementation of government reforms within the so-called (Vision 2030). Ending / 25