Global Banks Provide $150 Million Private Credit to United Saudi Company

Goldman Sachs, HSBC Holdings, and Fortress Investment Group have partnered with regional fund managers Ruya Partners and Amwal Capital Partners to provide $150 million in private credit financing for United Saudi Company. The transaction marks the first entry of Fortress Investment Group into the Saudi Arabian private credit market.

This financing comes as Saudi Arabia increases its reliance on private investors to support the economic restructuring efforts of Crown Prince Mohammed bin Salman. The kingdom faces financial strains resulting from the U.S.-Iran war, which has contributed to liquidity tightness within the Saudi banking sector.

The deal highlights a growing trend of alternative financing in the region. Small-to-medium enterprises in Saudi Arabia increasingly turn to private credit after struggling to secure traditional bank loans.