Islamic Finance

Saudi British Bank issues 5 bln riyals sukuk

Saudi British Bank has issued via private placement a 5 billion riyals sukuk.

The bank said in a bourse filing on Thursday (July 23) the Tier II sukuk will mature on July 22, 2030 but is callable from July 22, 2025.

It carries a profit rate of 6-month SAIBOR plus margin of 195 basis points.

HSBC Saudi Arabia was the sole book runner and lead manager for the private placement.

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