PIF signs $15B revolving credit facility

The Public Investment Fund (PIF) obtained a $15 billion revolving credit facility for general corporate purposes. This replaces the previous $15 billion (SAR 56.25 billion) revolving credit facility agreed in 2021.

In an emailed statement to Argaam the Kingdom’s sovereign wealth fund said the $15 billion revolving credit facility is offered for an initial period of three years and is extendable for up to two additional years.

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 PIF's strong credit rating as well as robust demand from PIF’s relationship banks and financial institutions. Signing this facility represents a continuation of PIF’s strategy of using a diverse range of financing instruments.

Loans and debt instruments represent one of PIF’s four sources of funding. The other three are capital injections from government, government assets transferred to PIF and retained earnings from investments.