Saudi British Bank sells 1.5b-riyal capital-boosting sukuk | GulfNews.com

Saudi British Bank sells 1.5b-riyal capital-boosting sukuk | GulfNews.com:



"Saudi British Bank (SABB) has completed a private placement of 10-year, 1.5 billion riyal ($400 million) subordinated Tier 2 sukuk callable in five years, it said in a bourse statement on Thursday.



The announcement confirmed a report by Reuters earlier this month.



The sukuk carries a semi-annual profit of 6 months Sibor (Saudi Interbank Offered Rate) plus 1.30 per cent."



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