Goldman Sachs, HSBC Holdings and Fortress Investment Group have joined forces to extend $150 million in financing to United Saudi Company (USC), Bloomberg reported.
The international financial institutions are collaborating with regional investment firms, including Ruya Partners and Amwal Capital Partners, to arrange the funding for the Saudi-based company, according to sources familiar with the transaction cited by the news agency.
USC is a leading producer of carded nonwoven fabrics used in hygiene products, medical applications and wipes.
The transaction is reportedly among the first major private credit deals to emerge since the outbreak of the regional conflict, highlighting continued confidence among international lenders and investors in businesses operating across the Gulf Cooperation Council (GCC) region.
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