Saudi Arabia takes out $10 billion loan from consortium of banks

Saudi Arabia takes out $10 billion loan from consortium of banks

Special to WorldTribune.com Saudi Arabia has taken out a $10 billion loan from several major banks to plug a growing budget deficit caused by falling crude oil prices. The five-year loan is Saudi Arabia’s first international debt issuance in 25 years, Financial Times reported on April 20. Participating lenders include U.S. banks JPMorgan, Goldman Sachs […]