March 2, 2018 / 10:42 AM / 7 months ago

Saudi expands $10 bln loan refinancing to $16 bln, introduces Islamic tranche

DUBAI, March 2 (Reuters) - Saudi Arabia is expanding the refinancing of a $10 billion international loan to $16 billion because of strong demand from banks already involved in the facility and lenders which want to join, the Saudi government’s Debt Management Office said on Friday.

The DMO also said it would introduce a “significant” Islamic tranche to the transaction, supporting Saudi Arabia’s goal of becoming the leading centre for Islamic finance, and intended to close the entire deal by mid-March. (Reporting by Andrew Torchia Editing by Alison Williams)

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