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Saudi sovereign fund

Saudi sovereign fund secures $11bn loan

RIYADH: Saudi Arabia's sovereign wealth fund said Monday it had secured its first ever international loan, boosting the kingdom's diversification drive after its flotation of state oil giant Aramco stalled. The Public Investment Fund said in a statement that it had obtained an $11 billion (9.4 billion euro) loan as "the first step in its strategic, medium-term debt funding programme". "We are pleased to have completed this international syndicated loan", the fund's managing director Yasir al-Rumayyan said. The PIF…