Saudi Arabia Raises $11 Billion Loan to Help Fund Deficit
- It’s biggest syndicated loan for a government this year
- Six top Chinese banks make up majority of lender group
A '2030 Vision' logo in Dhahran, Saudi Arabia.
Photographer: Simon Dawson/Bloomberg
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Saudi Arabia raised $11 billion through a syndicated loan, the biggest globally by a government this year, as it looks to finance a budget deficit amid weaker oil revenues.
The 10-year loan was funded by roughly 18 banks, including a handful of branches affiliated with the same parent lender, according to people familiar with the matter. Chinese banks committed roughly $5 billion, the people said.