Saudi Arabia’s NDMC raises $11 bln syndicated loan

Saudi Arabia’s National Debt Management Centre (NDMC) said on Sunday that it has successfully secured a syndicated loan of $11 billion for a 10-year term, involving the collaboration of 14 international financial institutions.

The loan will be funded by various financial institutions across Asia, the Middle East, Europe, and the U.S. It will support economic growth by funding development and infrastructure projects aligned with Saudi Vision 2030, the NDMC said.

NDMC added in a statement that the funding aligned with the approved annual borrowing plan, and the transaction aims to capitalise on market opportunities to execute alternative government financing activities.