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Saudi Arabia's PIF Raises $5Bn from Syndicated Loan

In March 2022, Saudi Arabia’s Public Investment Fund (PIF) and K-SURE signed a memorandum of understanding (MoU) expressing mutual intention to strengthen their partnership and cooperation (Asharq Al-Awsat)
In March 2022, Saudi Arabia’s Public Investment Fund (PIF) and K-SURE signed a memorandum of understanding (MoU) expressing mutual intention to strengthen their partnership and cooperation (Asharq Al-Awsat)
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Saudi Arabia's PIF Raises $5Bn from Syndicated Loan

In March 2022, Saudi Arabia’s Public Investment Fund (PIF) and K-SURE signed a memorandum of understanding (MoU) expressing mutual intention to strengthen their partnership and cooperation (Asharq Al-Awsat)
In March 2022, Saudi Arabia’s Public Investment Fund (PIF) and K-SURE signed a memorandum of understanding (MoU) expressing mutual intention to strengthen their partnership and cooperation (Asharq Al-Awsat)

Saudi Arabia’s Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) signed on Nov. 28 a financing agreement through which PIF has secured a term loan, from a syndicate of nine top international lenders.
The financing carries a door-to-door tenor of 13 years and will initially be set at $3 billion (nearly SAR 11.2 billion), with an option to increase to $5 billion (nearly SAR 18.7 billion), subject to pre-agreed terms and conditions.
The transaction will mark PIF’s first financing covered by an export credit agency, as it continues to diversify its sources of funding.
In March 2022, PIF and K-SURE signed a memorandum of understanding (MoU) expressing mutual intention to strengthen their partnership and cooperation. This resulted in achieving, among other matters, the K-SURE covered term loan.
The collaboration between PIF and K-SURE aims to promote the export of Korean goods and services into various projects and subsidiaries either partially or fully owned by PIF while strengthening economic partnerships.
“This collaboration with K-SURE underscores PIF's commitment to foster institutional partnerships as we continue to deliver on our medium-term capital raising strategy,” said Fahad AlSaif, Head of the Global Capital Finance Division at PIF.

“The financing is part of PIF’s four primary sources of funding and strengthens economic ties between Saudi Arabian and South Korean businesses,” he added.
“Through this financial support, Korean companies have not only gained technological competitiveness but also financial competitiveness to increase orders,” said Inho Lee, President of K-SURE.
“We trust this support will contribute to strengthening the future-focused partnership between the two countries,” he added.
This financial agreement marks a continuation of PIF’s efforts to diversify its funding sources.
Recently, it successfully issued international bonds totaling $3.5 billion.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.