NEOM has secured a new revolving credit facility (RCF), worth SAR 10 billion ($2.667 billion), that will support short-term financing requirements as NEOM moves forward with the development of major projects, including TROJENA, THE LINE, OXAGON and the soon-to-open luxury island destination Sindalah.

The transaction was targeted at Saudi relationship banks, NEOM said, adding that the facility saw strong interest, with nine banks participating. The mandated lead arrangers are Saudi National Bank, Riyad Bank and Saudi Awwal Bank. Other participant banks are Al Rajhi Banking and Investment Corporation, Alinma Bank, Arab National Bank, Bank Albilad, The Saudi Investment Bank and Bank AlJazira.

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