{"id":93144,"date":"2025-01-07T00:00:00","date_gmt":"2025-01-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/07\/pif-closes-usd-7-bn-inaugural-murabaha-credit-facility\/"},"modified":"2025-01-07T00:00:00","modified_gmt":"2025-01-07T00:00:00","slug":"pif-closes-usd-7-bn-inaugural-murabaha-credit-facility","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/07\/pif-closes-usd-7-bn-inaugural-murabaha-credit-facility\/","title":{"rendered":"PIF closes USD 7 bn inaugural murabaha credit facility"},"content":{"rendered":"

PIF closes its first ever murabaha credit facility:<\/strong> The Public Investment Fund completed a USD 7 bn murabaha credit facility, backed by a syndicate of 20 unnamed international and regional financial institutions, it said in a statement<\/a>. The statement did not disclose additional information on the tenor of the facility, its rate, or how it will be utilized. <\/p>\n

Speaking to PIF\u2019s high creditworthiness: <\/strong>The sovereign wealth fund holds an Aa3 rating from Moody\u2019s, and an A+ rating from Fitch \u2014 both with a stable outlook.<\/p>\n

The move comes as part of PIF\u2019s \u201cmedium-term capital raising strategy,\u201d <\/strong>with the statement highlighting government capital injections and asset transfers, retained earnings from investments, and debt as PIF\u2019s principal sources of funding. <\/p>\n

PIF\u2019s announcement <\/strong>came just hours after the government kicked off its first <\/strong>USD-denominated bond <\/strong>sale for the year<\/strong>, attracting investor bids that topped USD 30.5 bn, Bloomberg<\/a> reports, citing a person familiar with the matter. The yields were priced at 85 basis points over US treasuries for the three-year tranche, 100 basis points for the six-year tranche, and 110 basis points for the 10-year tranche. Citigroup, Goldman Sachs Group, and JPMorgan Chase are the principal financial institutions managing the offering, the business information service said.<\/p>\n

ICYMI- <\/strong>The finance ministry approved a SAR 139 bn borrowing plan for FY 2025<\/a><\/strong> on Sunday, intended to bridge an anticipated SAR 101 bn budget deficit penciled in for the new fiscal year. Additionally, the National Debt Management Center (NDMC) secured a USD 2.5 bn (SAR 9.4 bn<\/a> shariah-compliant revolving credit facility earlier this week to further shore up the state budget, raised from Abu Dhabi Islamic Bank, Credit Agricole SA and Dubai Islamic Bank, according to Bloomberg.<\/p>\n

\n

IN OTHER DEBT NEWS-<\/p>\n

Nomu-listed <\/strong>Almujtama Alraida Medical Co.<\/a><\/strong> lined up a SAR 45 mn<\/strong> loan<\/strong> with Alinma Bank<\/strong>, according to a disclosure to Tadawul<\/a>. The three-year facility features a SAR 35 mn tranche for goods purchases and a SAR 10 mn tranche for capital expenditures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government also kicked off its first bond sale of the year<\/p>\n","protected":false},"author":1,"featured_media":93145,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[2441,57,10,1151,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-ksa","tag-public-investment-fund-pif","tag-state-budget","wpautop","entry"],"acf":{"mongo_id":"568ce7da-c433-4516-ab8d-5947876082e2","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/209.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF closes USD 7 bn inaugural murabaha credit facility","related_issue":[93139],"teaser":"The government also kicked off its first bond sale of the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.7a76ced2-2088-40ea-9ea4-009cfbe9860b.mp3"},"yoast_head":"\nPIF closes USD 7 bn inaugural murabaha credit facility - 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