The Public Investment Fund (PIF) has obtained a $15 billion revolving credit facility for general corporate purposes, replacing the previous $15 billion facility agreed upon in 2021. This new facility is provided for an initial period of three years and is extendable for up to two additional years.
The facility agreement was signed with a diverse global syndicate of 23 international financial institutions from Europe, the United States, the Middle East, and Asia. This reflects PIF’s strong credit rating and the robust demand from its relationship banks and financial institutions.
$15 billion facility over three years
This financing represents a continuation of PIF’s strategy of utilizing a diverse range of financing instruments. Loans and debt instruments are one of PIF’s four sources of funding. The other three sources include capital injections from the government, government assets transferred to PIF, and retained earnings from investments.
PIF rated A1 by Moody’s, A+ by Fitch
PIF is currently rated A1 by Moody’s with a positive outlook and A+ by Fitch with a stable outlook, underscoring its financial strength and credibility in the global markets.
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