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FINANCIAL NEWS
Saudi KHC reported to plan a USD500m loan
07 Oct 2012
(MENAFN) Kingdom Holding Co (KHC), chaired by Saudi billionaire Prince Alwaleed bin Talal, is looking to raise up to USD500 million, mainly to refinance existing debt, Reuters reported, citing three banking sources.
One of the sources familiar with the matter said that KHC originally planned a bond issue, but decided to go for a syndicated loan instead.
Kingdom Holding was not immediately available for comment, and the sources declined to be named as the matter has not been made public.
Kingdom raised USD800 million from a syndicated loan in 2008, according to Reuters data.
Kingdom Holding has minority stakes in some of the world’s most valuable companies, including Rupert Murdoch’s News Corp and microblogging site Twitter.
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