Pimco Privately Lends $10 Billion to Gulf in Wartime Deals

As Persian Gulf states build cash buffers to deal with any potential economic fallout from the Iran war, one large buyer has stepped in: Pacific Investment Management Co.

Since the conflict began on Feb. 28, Pimco has lent more than $10 billion to state-backed and government borrowers in the Gulf via so-called private placements, according to people familiar with the matter.