Saudi marketUpdated November 3

PIF raises US$3bn-equivalent in SACE-guaranteed facilities

The Public Investment Fund (PIF) announced it raised US$3 billion-equivalent through credit facilities guaranteed by Italy’s export credit agency, SACE. A syndicate of 25 international banks provided the facilities, comprising a US$1.78 billion tranche and a €1.035 billion green tranche. PIF described the transaction as part of its use of diverse funding sources and financial instruments. The fund intends the transaction to expand trade and procurement opportunities for Italian suppliers within its ecosystem. Proceeds from the euro-denominated green tranche are allocated to eligible green projects under PIF’s Green Finance Framework.

1 publisher1 report

Coverage started November 3