Prince Alwaleed bin Talal’s Kingdom Holding has agreed a deal with three Saudi banks for a SR3bn ($800m) syndicated loan facility that is expected to be used for investments in local markets.
The deal was arranged by Samba, Riyadh Bank and Banque Saudi Fransi and was officially signed on 14 September. Syndication to a limited number of other Saudi banks is not expected to occur until after Ramadan.
Kingdom holds stakes in a wide range of international businesses, such as News Corporation, Citigroup, Fairmont Hotels and Ebay. Its local investments include food and retail firm Savola Group, Al-Azizia Commercial Investment Company and industrial group Tasnee.
Banks had originally started working on the deal in July, when Kingdom had been seeking up to SR5bn (MEED 17:7:08).
You might also like...
Amiral cogen eyes financial close
26 April 2024
Lunate acquires 40% stake in Adnoc Oil Pipelines
26 April 2024
Saudi Arabia's Rawabi Holding raises SR1.2bn in sukuk
26 April 2024
Iraq oil project reaches 70% completion
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
