DUBAI—Saudi Arabia is set to secure a $10 billion loan from international banks as the kingdom seeks to address a budget shortfall caused by the fall in oil prices, according to five bankers close to the transaction.
Saudi Arabia increased the loan size from an initial target range between $6 billion and $8 billion, after receiving strong demand from a wide range of global banks, said the people familiar with the matter. The terms of the loan have been agreed and only requires the documentation to be finalized, said the people. Continue reading “Saudi Arabia Set to Secure $10 Billion Loan to Address Budget Shortfall”