RIYADH — The Public Investment Fund (PIF) has secured a $15 billion revolving credit facility to support its general corporate purposes, replacing the previous $15 billion facility established in 2021.

The new facility is set for an initial three-year term and can be extended for up to two additional years. It was signed with a diverse global syndicate of 23 international financial institutions from Europe, the U.S., the Middle East, and Asia.

This financing arrangement highlights PIF's strong credit rating and the significant demand from its relationship banks and financial institutions. The signing of this facility continues PIF’s strategy of employing a varied range of financing tools.

Loans and debt instruments are one of PIF’s four funding sources, alongside capital injections from the government, transferred government assets, and retained earnings from investments. PIF holds an A1 rating from Moody’s with a positive outlook and an A+ rating from Fitch with a stable outlook. — Agencies