Saudi Samba Financial Group sells $1 bln five-year bonds - Reuters:
Saudi Arabia’s Samba Financial Group is set to raise $1 billion in five-year bonds, a document issued by one of the banks on the deal showed on Wednesday.
The bank, which ranks behind National Commercial Bank (NCB) and al Rajhi among Saudi banks by total assets, received orders in excess of $3.25 billion for the issuance, the document said.
The deal comes amid a flurry of international debt issuance from the Gulf region, as governments and companies take advantage of low global rates to raise cash amid low oil prices.
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