Tamara seeks $1.4B financing: Report

Tamara Finance Co., a Saudi fintech, is set to secure at least $1.4 billion in financing from a group of banks, Bloomberg reported, citing sources.

Goldman Sachs, Citigroup, and Apollo Global Management are expected to participate in the asset-backed financing deal, the sources said.

One source noted that the transaction will refinance and expand a previous debt facility arranged by Goldman Sachs, adding that the commitment could increase to about $2.4 billion.

The deal is still being finalized, and its terms remain subject to change, the report said.