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Grandiose construction plans are having to be scaled back as Saudi borrowing rises, but the main point is social progress
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But low spreads on bonds posing stiff competition for loan market -
A consortium of 12 banks were involved in providing the facility
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Loan will fund the investment company's purchases of non-oil and gas assets
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The facility is being used to drive Saudi investment in industries away from petrochemicals
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Bankers uncertain whether trades that didn't cross the line in 2024 will proceed
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Company has doubled its relationship banks
