Goldman Sachs and HSBC Join Financing for Saudi Textile Company Alongside Regional Partners
Key Facts
Goldman Sachs and HSBC, alongside Fortress Investment Group, Ruya Partners and Amwal Capital Partners, are participating in credit financing for United Saudi Company, according to an open report citing Bloomberg for details of the transaction. The deal provides financing to a Saudi industrial company that manufactures nonwoven fabrics, according to Ruya Partners’ portfolio page. The company is based in Jeddah, while its production operations are in Yanbu. The open report did not provide details on the financing terms or structure. The participation of these institutions places the deal within a broader push by international and regional private credit managers into Saudi financing opportunities.
Founded in 1994, the company describes itself as a nonwoven-fabrics manufacturer, according to Ruya Partners. It is developing a raw-materials facility adjacent to its plant in Yanbu, a move that supports the vertical integration of its operations. Under a long-term take-or-pay purchase agreement, the company will buy raw materials exclusively from Unicorn, according to Ruya’s page. The arrangement links the plant’s requirements to the planned raw-materials source near the production site. Details of the project provide industrial context for the financing, as the plan is tied to production and supply-chain development in Yanbu.
The financing comes as regional interest in private debt in Saudi Arabia grows. The Saudi Venture Capital Company said, citing a Preqin report, that 97% of institutional investors surveyed in the Middle East viewed the kingdom as the most promising market for private debt funds over the following year. The figure was 82% in 2023, according to the same source. The change reflects the market’s growing appeal among regional institutional investors, according to the published survey results. These figures provide a backdrop to asset managers’ interest in private debt opportunities in the kingdom, as financing flows to a Saudi industrial company.
A Bloomberg Law report in October 2025 pointed to private credit firms competing for opportunities in Saudi Arabia, as economic diversification projects drain liquidity from the banking system. David Beckett, head of deal origination and business development for the Middle East at an asset manager, said banks refer some deals to them when they cannot finance them. He was quoted as saying: "In some cases, banks refer deals to us because they are unable to finance them." In another sign of expanding private debt activity, financing for the Gulf startup ecosystem reached 4.1 billion dollars in 2025, compared with about 0.5 billion dollars in 2024, according to a Stride Ventures report cited by Zawya. Saudi Arabia accounted for about 3.9 billion dollars of the 2025 total, according to the report; those figures concern the startup ecosystem and do not represent the value of financing for United Saudi Company.