NEOM, a unit of the kingdom’s sovereign wealth fund, secured a new revolving credit facility (RCF) worth 10 billion riyals ($2.67 billion) from local lenders, according to a NEOM statement seen by Reuters on Sunday.
Saudi National Bank, Riyad Bank, and Saudi Awwal Bank acted as the lead arrangers on the new facility
NEOM, a unit of the kingdom’s sovereign wealth fund, secured a new revolving credit facility (RCF) worth 10 billion riyals ($2.67 billion) from local lenders, according to a NEOM statement seen by Reuters on Sunday.
Saudi National Bank, Riyad Bank, and Saudi Awwal Bank acted as the lead arrangers on the new facility while other participant banks are Al Rajhi Bank, Alinma Bank, Arab National Bank, Bank Albilad, The Saudi Investment Bank, and Bank AlJazira, the press release shows.
The new facility will be used to support NEOM’s short-term financing requirements as it moves forward in the development of major projects.
($1 = 3.7505 riyals)
Reporting by Shamsuddin Mohd
Gulf carriers Qatar Airways and Emirates are ramping up their presence in Africa, competing for market dominance in a fast-growing and strategically vital aviation region, reports Jeune Afrique.
Investors on the Tel Aviv Stock Exchange (TASE) sent a strong signal of relief and optimism Sunday following the announcement of a ceasefire agreement between Israel and Hamas, coupled with the anticipated return of Israeli hostages from Gaza.
U.S. Secretary of State Marco Rubio is expected to attend a ministerial meeting to be held on Thursday in Paris with European, Arab and other states to discuss Gaza's post-war transition, three diplomatic sources said on Wednesday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.