US-based investment bank Morgan Stanley is seeking to sell a $350 million loan extended to Saudi Arabia’s Public Investment Fund (PIF), Bloomberg reported, citing a note detailing various loan sales.

The note did not specify the sale price or the reason for the sale, the report said. 

The potential sale is tied to a loan that PIF raised through 25 banks in 2022, marking the largest-ever deal for general corporate purposes by a borrower from the Middle East, Bloomberg said. 

The sale of such debt typically requires the borrower’s consent, the news report added.

(Editing by Brinda Darasha)