PIF raises $3bn in SACE-backed financing to expand Italian business ties

RIYADH: Saudi Arabia’s Public Investment Fund has raised the equivalent of $3 billion in credit facilities, guaranteed by Italy’s export credit agency SACE to support procurement from suppliers and expand business cooperation with the European country. The financing comprises a $1.78 billion tranche and a €1.035 billion ($1.16 billion) green tranche, provided by a syndicate of 25 international banks, PIF…