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Page added on January 9, 2018

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Saudi Arabia Considers Adding to $10 Billion Loan

Public Policy

Saudi Arabia is considering increasing the size of a $10 billion loan after banks on the 2016 deal offered to lend more, people familiar with the matter said.

Lenders are in talks with the government to increase the amount it borrowed, said the people, asking not to be identified because the discussions are private. Another option being discussed is to arrange new bilateral or club facilities with the banks, they said.

The kingdom could add as much as $5 billion to the loan, one of the people said. Final decisions haven’t been made and discussions may not result in a new deal, the people said. Saudi Arabia’s ministry of finance didn’t immediately respond to requests for comment.

The world’s biggest oil exporter plans to borrow about $31 billion this year to bridge an expected budget deficit of $52 billion and fund growth plans after its economy shrank last year. Saudi Arabia raised about $36 billion last year, including $14 billion of domestic bonds and $22 billion from international debt markets.

In 2016, the government borrowed the $10 billion loan from banks including HSBC Holdings Plc, JPMorgan Chase & Co. and Bank of Tokyo Mitsubishi UFJ. It was the country’s first loan for at least 15 years.

bloomberg



One Comment on "Saudi Arabia Considers Adding to $10 Billion Loan"

  1. bobinget on Wed, 10th Jan 2018 12:00 pm 

    Three wars, gillion dollar paintings, pleasure ships,
    are expensive. Add in a 4th war, against Iran, will break KSA. If Israel gets involved, it too will perish.
    Remember, KSA has but a single easily suspended export.

    (new subject) Remember OUR war?

    Pakistan’s price: US to pay $365 million more a year to reopen supply lines
    A US-Pakistan deal to reopen a key NATO supply route through Pakistan, closed for nearly six months, would raise the cost of the war effort in Afghanistan by about $365 million annually.

    By Saeed Shah, McClatchy Newspapers MAY 16, 2012
    Athar Hussain/Reuters
    ISLAMABAD, PAKISTAN — The cost of the US-led war effort in Afghanistan is about to rise by $365 million annually under an agreement that would reopen a key NATO supply route through Pakistan that’s been closed for nearly six months.

    The accord, which the Pakistani government announced late Tuesday, would revive the transport of vital supplies of food and equipment from Pakistani ports overland to land-locked Afghanistan. (remember, we just cut military aid for roughly the same number)
    More; https://www.csmonitor.com/World/Asia-South-Central/2012/0516/Pakistan-s-price-US-to-pay-365-million-more-a-year-to-reopen-supply-lines

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