Saudi Arabia plans to raise $11 billion from a syndicated loan as the kingdom seeks to finance its investment plans, Bloomberg News reported on Friday.
The kingdom's Ministry of Finance has appointed Industrial & Commercial Bank of China Ltd as coordinator and bookrunner for the long-term senior unsecured loan, the report said citing people familiar with the matter.
ICBC has invited other banks to participate in the loan and has asked interested parties to respond before mid-October, Bloomberg reported.
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