Riyadh - Sharikat Mubasher: PIF announced its first Murabaha credit facility 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, according to an official press release.

Fahad AlSaif, PIF’s Head of the Global Capital Finance Division and Head of the 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.