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Wed 2 Mar 2016 08:15 PM

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Saudi Arabia asks banks to discuss major loan

Sources say gov't is seeking international loan that could total around $10bn

Saudi Arabia asks banks to discuss major loan

Saudi Arabia's government has asked banks to discuss providing it with a major international loan that could total around $10 billion, sources aware of the matter said on Wednesday.

The government sent an invitation to banks to discuss the loan, the sources said, declining to be named because the matter is not public.

The invitation did not specify the size of the loan, but the sources said they believed it could be around $10 billion or possibly more.

Calls to the Saudi finance ministry and central bank seeking comment after hours on Wednesday were not answered.