Clouds move over the Riyadh skyline November 17, 2013.
REUTERS/FAISAL AL NASSER
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Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would be the first significant foreign borrowing by the kingdom's government in over a decade.Last week, Reuters reported that Saudi Arabia had asked banks to discuss the idea of an international loan, but details such as the size and lifespan were not specified.The firm has sent requests for proposals to a small group of banks on behalf of the Saudi Finance Ministry, the sources said. They added that banks participating in the loan would have a better chance of being chosen to arrange an international bond issue that Saudi Arabia may conduct as soon as this year.
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