Saudi British Bank sold a five-year 1.5 billion riyal ($400 million) Islamic bond, or sukuk, in a private placement on Wednesday, a banking source familiar with the matter said.
"It was subordinated sukuk of 1.5 billion riyals with a tenor of five years, maturing in 2017. The pricing was 120 basis points over sibor (Saudi interbank offered rate)," the source told Reuters, adding the deal was privately placed.
SABB is the Saudi affiliate of HSBC. It posted a 65 percent rise in fourth quarter profit on lower operating costs.
No comments:
Post a Comment