• The Shariah-compliant financing structure forms part of PIF’s continued objective of diversifying its funding sources

RIYADH  – PIF today announced its first murabaha credit facility for the sum of $7 billion, as part of its medium-term capital raising strategy. The financing structure is supported by a diverse syndicate of [20] international and regional financial institutions.

Fahad AlSaif, PIF’s Head of the Global Capital Finance Division and Head of Investment Strategy and Economic Insights Division, said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia.”

This financing complements PIF’s successful sukuk issuances over the past two years. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.

PIF is rated Aa3 by Moody’s with a stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.

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About PIF

PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment.

And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future.

Since 2017, PIF has established 99 companies and is driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.

For more information, visit the website at www.pif.gov.sa

Rupert Trefgarne: rtrefgarne@pif.gov.sa