Saudi National Bank’s $1 Billion Loan Adds to Middle East Spree
The Saudi National Bank headquarters in Riyadh.
Photographer: Maya Anwar/BloombergSaudi National Bank is seeking a $1 billion syndicated loan, continuing a borrowing rush by the kingdom’s lenders that are helping finance a $2 trillion economic overhaul.
DBS Bank Ltd. and Mitsubishi UFJ Financial Group Inc. are the mandated lead arrangers and bookrunners of the five-year deal, according to a person familiar with the matter. The loan is being syndicated to the broader market, including Asia, said the person, who asked not to be identified discussing a private matter.