Saudi Arabia has turned to borrowing as major oil exporters in the Persian Gulf feel… DUBAI—Saudi Arabia is set to secure a $10 billion loan from international banks as the kingdom seeks to address a budget shortfall caused by the fall in oil prices, according to five bankers close to the transaction. Saudi Arabia increased the loan size from an initial target range between $6 billion and $8 billion, after receiving strong demand from a wide range of global banks, said the people familiar with the matter. The terms of the loan have been agreed and only requires the documentation to be finalized, said the people. Among the participating lenders are U.S. banks J.P. Morgan , Goldman Sachs and Morgan Stanley , but also a strong Asian contingent including Bank of Tokyo-Mitsubishi UFJ, Industrial and Commercial Bank of China and Mizuho Bank, said the bankers. Saudi Arabia’s Ministry of […]