Saudi Arabia Plans Further Borrowing Spree to Pay for Huge Projects

Saudi Arabia, one of the largest bond issuers in emerging markets last year, has started 2025 with a funding spree as the country fuels its vast economic transformation plan, Bloomberg News reported. The kingdom’s sovereign wealth fund signed a $7 billion Islamic loan with a group of 20 international and regional banks, it said Monday. The announcement came hours after the finance ministry began a dollar-bond sale and days after it raised $2.5 billion from three foreign banks.
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Saudi Cable Says Turkish Appeal Court Overturns Subsidiary’s Bankruptcy

Saudi Cable Co. (SCC) issued a clarification regarding the ruling of Turkey's appeal court to overturn the bankruptcy (liquidation) decision previously issued against Elimsan, its subsidiary in Turkey, Argaam.com reported. In a statement to Tadawul, the company said its board decided on Oct. 11, 2021, to take the necessary actions to protect Elimsan Salt Cihazlari ve Elektromekanik San ve Tic A.S. by applying the debt protection law (financial restructuring). Elimsan is 94% owned by Mas Kablo, a subsidiary, which is 100% owned by Saudi Cable. On Feb.
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Saudi Arabia’s PIF to Take 40% Share in Selfridges Stores

Saudi Arabia’s Public Investment Fund is set to become a minority partner in UK department-store chain Selfridges after buying out the position of the now-insolvent Signa Group, Bloomberg News reported. The PIF will take a 40% stake in both the property and operating businesses of Selfridges, according to an emailed statement from current co-owner Central Group. The Thai retail conglomerate will own a 60% stake, with the deal including new investment from both shareholders to shore up Selfridges’ financial position.
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