Saudi National Bank plans five-year dollar-denominated sukuk offering

Chicago, Feb. 20 – Saudi National Bank is in the market with an offering of dollar-denominated five-year sukuk, according to multiple announcements.

The issuer will be special purpose vehicle SNB Sukuk Ltd.

There will be early redemption provisions detailed in the offering circular.

Emirates NBD Bank PJSC, Dubai Islamic Bank PJSC, Goldman Sachs International, HSBC Bank plc, Mizuho International plc, SNB Capital Co. and Standard Chartered Co. are the joint lead managers and joint bookrunners.

Proceeds will be used for general corporate purposes and to fulfill the bank’s financial and strategic objectives.

The Regulation S certificates will be listed in London.

Pricing is expected to wrap by Wednesday.

Saudi National Bank, based in Riyadh, is the largest commercial bank in Saudi Arabia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.