Alwaleed to Sign $1 Billion Loan in First Borrowing Since Arrest

Kingdom Holding Co. will soon close a $1 billion loan, the first time Prince Alwaleed Bin Talal’s investment firm has borrowed since his detention last year.

Kingdom Holding will sign the deal “imminently” with a group of international and local banks, Chief Executive Officer Talal Bin Ibrahim Al Maiman said in a phone interview from Riyadh. The investment firm, which started discussions with banks about the borrowing last October, hasn’t been in a rush to close the loan because it’s had enough cash to finance its investments, he said.