Wednesday, 17 July 2019 12:16 GMT
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Saudi Arabia syndicated loan to be raised to USD16bn




(MENAFN) Saudi Arabia declared its USD10 billion syndicated loan to be raised by USD6 bullion, aiming to block an economic shortfall.

The debt management office of the ministry of finance stated how current holders and startup banks demonstrated "an exceptional response".

In its statement, it also confirmed the new USD16 million to be priced "at a margin representing a 30 percent reduction from levels set in 2016."

In an attempt finance development projects and to plug an estimated USD52 billion budget deficit, Saudi is planning to take a loan of around USD31 billion in 2018.

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Saudi Arabia syndicated loan to be raised to USD16bn

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