PIF Secures $7 Billion in First Murabaha Credit Facility Deal

The Public Investment Fund (PIF) has announced that it has completed its first-ever murabaha credit facility, worth $7 billion. This is part of PIF’s plan to raise money for future investments. The financing is supported by a group of 20 banks and financial organizations from both around the world and the region.

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Fahad AlSaif, the head of PIF’s Global Capital Finance Division, explained that this new funding shows how PIF can use many different sources of money to fund its projects. He said this will help PIF keep making important investments, both in Saudi Arabia and internationally.

This credit facility is an addition to PIF’s successful sukuk issues in the past two years. It also shows that PIF has a strong financial position and is following the best ways to manage its debt.

PIF has good credit ratings, with Moody’s rating it Aa3 and Fitch rating it A+. This shows that PIF is financially stable. PIF has four main ways it gets money: through capital from the government, transferring government assets, making money from its investments, and using loans or debt.

PIF is an important part of Saudi Arabia’s plan for economic growth, known as Vision 2030, and this new credit facility helps PIF continue working towards that goal.

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