PIF Signs $15 Billion Revolving Credit Facility Agreement

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The Public Investment Fund (PIF) has obtained a revolving credit facility for general corporate purposes valued at $15 billion (56.25 billion riyals). This new facility will replace a revolving credit facility of the same amount agreed upon in 2021.

The credit facilities amounting to $15 billion (56.25 billion riyals) were provided for an initial period of 3 years, extendable for an additional two years.

The fund signed the facilities agreement with a diverse international alliance that includes 23 financial institutions from Europe, the United States, the Middle East, and Asia.

The financing highlights the strong financial position and credit rating of the Public Investment Fund (PIF). This reflects high demand from its partner banks and financial institutions. Moreover, these credit facilities extend the PIF’s strategy of using diverse financing tools.

Loans and debt instruments are one of the four main funding sources for the Public Investment Fund, along with government cash contributions, transfers of government-owned assets, and investment returns.

In conclusion, the Public Investment Fund had received an A1 rating with a positive outlook from Moody’s credit rating agency. Additionally, an A+ rating with a stable outlook from Fitch credit rating agency.

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