Saudi Arabia Raises $13 Billion in Syndicated Loan to Boost Infrastructure Projects

Saudi Arabia raised $13 billion through a seven-year syndicated loan as the Kingdom steps up funding for infrastructure projects spanning power, water, and public utilities. The financing was arranged by the National Debt Management Center (NDMC) as part of the government’s medium-term borrowing strategy, which aims to diversify funding sources and secure financing at competitive costs, the agency said in a statement.

The loan supports Saudi Arabia’s broader push to upgrade infrastructure under its Vision 2030 economic transformation program, as the government accelerates investment in utilities and development projects alongside private-sector participation.

“This transaction aims to leverage market opportunities to execute alternative government financing activities that contribute to economic growth, including the financing of development and infrastructure projects aligned with Saudi Vision 2030,” the NDMC said.

NDMC, established in 2015 within the Ministry of Finance as the Debt Management Office before being restructured into its current form, manages public debt and addresses the government’s financing needs across short-, medium-, and long-term horizons.

The syndicated loan follows a series of recent debt market transactions. In December, NDMC raised SR7.01 billion ($1.87 billion) through a domestic sukuk issuance split across five tranches. The first tranche, valued at SR1.23 billion, is set to mature in 2027, while the second tranche amounted to SR335 million, maturing in 2029. The third tranche, worth SR1.18 billion, matures in 2032, the fourth tranche of SR1.692 billion expires in 2036, and the fifth tranche, valued at SR2.573 billion, will mature in 2039.

In September, NDMC completed the issuance of a $5.5 billion (SR20.63 billion) international sukuk under the Kingdom’s Global Trust Certificate Issuance Program. This offering was the country’s first international sukuk based on an Ijarah structure and was issued in two tranches: a five-year sukuk maturing in 2030 raised $2.25 billion (SR8.44 billion), while a 10-year tranche maturing in 2035 secured $3.25 billion (SR12.19 billion).

The center said the international issuance aligns with its strategy to diversify the investor base and meet Saudi Arabia’s financing requirements through global debt capital markets efficiently. Analysts noted that such transactions provide the Kingdom with liquidity to pursue large-scale infrastructure projects while maintaining flexibility in public finances.

By tapping both domestic and international debt markets, Saudi Arabia continues to strengthen funding for projects under Vision 2030, including utilities, transportation networks, and urban development. The $13 billion syndicated loan underscores the Kingdom’s commitment to sustaining economic growth and creating long-term investment opportunities for both public and private sectors.