Key Takeaways
- • Goldman Sachs, HSBC, and Mubadala-backed Fortress Investment Group, with regional managers Ruya Partners and Amwal Capital, are providing USD 150 mn to nonwoven fabrics manufacturer United Saudi Company, per Bloomberg citing people familiar with the matter.
- • The deal is among the first major private credit transactions involving large international lenders in Saudi Arabia since the regional war began in February, and marks Fortress's first move into Saudi private credit.
- • Janus Henderson has raised almost USD 200 mn for a regional private credit fund, while Ruya, backed by Mubadala and PIF, is raising a USD 400 mn fund.
- • Saudi Arabia's cabinet approved its first comprehensive consumer protection law, which takes effect 180 days after publication in the Official Gazette and carries fines of up to SAR 8 mn.
- • Saudi Export-Import Bank credit facilities reached SAR 43.2 bn through September, up 27.1% year-on-year, according to SPA.
Summary
International private credit is returning to Saudi Arabia despite the regional conflict. Goldman Sachs, HSBC, and Fortress Investment Group, alongside regional managers Ruya Partners and Amwal Capital, are providing USD 150 mn in financing to United Saudi Company, a nonwoven fabrics manufacturer, according to Bloomberg, which cited people familiar with the matter. The transaction is one of the first major private credit deals involving large international financiers since the regional war began in February, and it marks Fortress's first move into Saudi private credit. The backdrop includes near-daily Houthi attacks, strained domestic finances, and tight bank liquidity, which make foreign capital more important to the Kingdom.
Fresh fundraising is also underway. Janus Henderson has raised almost USD 200 mn for a regional private credit fund, and Ruya, backed by Mubadala and PIF, is raising a USD 400 mn fund that would rank among the region's largest. Founders are increasingly turning to debt as equity becomes harder to raise, with venture investors reporting that companies are taking on debt alongside their next funding round. Saudi venture funding fell about a third over nine months, while the UAE pulled further ahead.
The cabinet approved the Kingdom's first comprehensive consumer protection law, according to a cabinet statement and Commerce Minister Majid Al Kassabi. The law takes effect 180 days after publication in the Official Gazette and replaces the Anti-Commercial Fraud Law, the E-commerce Law, and the Commercial Data Law. It allows temporary measures to curb abnormal price increases during crises, including price setting, margin caps, and prior approval requirements for price rises. Violators face fines of up to SAR 8 mn, prison terms of up to two years, business suspension, product seizure, and public warnings, according to the Commerce Ministry.
On the infrastructure front, DP World now expects to open its USD 250 mn Jeddah Logistics Park in 1Q 2027, according to GCC CEO Ahmad Al Hassan, as quoted by Seatrade Maritime. The 415k sqm facility was originally slated to open in 2Q 2025. Jeddah's South Container Terminal posted another record month in October, per Al Hassan, though October volumes were not disclosed. Separately, Saudi Arabia and Iraq are reportedly weighing a revived oil pipeline to the Red Sea via Yanbu, according to Shafaq News citing unnamed sources; neither government has confirmed an agreement.
Saudi Export-Import Bank credit facilities totaled SAR 43.2 bn through September, up 27.1% from SAR 34 bn, according to SPA. SMEs accounted for 36.7% of the bank's clients.
Fresh fundraising is also underway. Janus Henderson has raised almost USD 200 mn for a regional private credit fund, and Ruya, backed by Mubadala and PIF, is raising a USD 400 mn fund that would rank among the region's largest. Founders are increasingly turning to debt as equity becomes harder to raise, with venture investors reporting that companies are taking on debt alongside their next funding round. Saudi venture funding fell about a third over nine months, while the UAE pulled further ahead.
The cabinet approved the Kingdom's first comprehensive consumer protection law, according to a cabinet statement and Commerce Minister Majid Al Kassabi. The law takes effect 180 days after publication in the Official Gazette and replaces the Anti-Commercial Fraud Law, the E-commerce Law, and the Commercial Data Law. It allows temporary measures to curb abnormal price increases during crises, including price setting, margin caps, and prior approval requirements for price rises. Violators face fines of up to SAR 8 mn, prison terms of up to two years, business suspension, product seizure, and public warnings, according to the Commerce Ministry.
On the infrastructure front, DP World now expects to open its USD 250 mn Jeddah Logistics Park in 1Q 2027, according to GCC CEO Ahmad Al Hassan, as quoted by Seatrade Maritime. The 415k sqm facility was originally slated to open in 2Q 2025. Jeddah's South Container Terminal posted another record month in October, per Al Hassan, though October volumes were not disclosed. Separately, Saudi Arabia and Iraq are reportedly weighing a revived oil pipeline to the Red Sea via Yanbu, according to Shafaq News citing unnamed sources; neither government has confirmed an agreement.
Saudi Export-Import Bank credit facilities totaled SAR 43.2 bn through September, up 27.1% from SAR 34 bn, according to SPA. SMEs accounted for 36.7% of the bank's clients.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.