(Bloomberg) -- Saudi Arabia's sovereign wealth fund said it isn't planning a margin loan backed by its investment in SoftBank Group Corp.'s Vision Fund.
“PIF is not planning, or even considering, a margin loan backed by its investment in SoftBank Vision Fund,” the Public Investment Fund said in a statement after Bloomberg reported Saturday that the fund was were seeking a $10 billion loan backed by the assets. “PIF has ample liquidity and has not been engaged with anyone to raise margin loans against its Vision Fund stake.”
The fund also said:
- “As part of our strategy as outlined in our Vision Realization Program, PIF has four major sources of funding -- capital injections from the government, transfer of government assets, loans and debt instruments to take advantage of the capital markets, and retained earnings from investments.”
- “As such, PIF may utilize various sources opportunistically to optimize its capital as per its strategy.”
- “We also continue to deploy capital through strategic investment opportunities to generate significant long-term returns that benefit the people of Saudi Arabia and drive the country's economic growth.”
NOTE: Saudi Wealth Fund Said to Be Seeking $10 Billion Margin Loan
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