CEO Morning Brief

Saudi Arabia's Biggest Lender Hires Banks for Sustainable Sukuk — Document

edgeinvest
Publish date: Tue, 20 Feb 2024, 10:24 AM
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TheEdge CEO Morning Brief
 

DUBAI (Feb 19): Saudi National Bank, the kingdom's biggest lender, has mandated banks to organise a series of fixed income investor meetings ahead of the planned issuance of sustainable Islamic bonds or sukuk, a document seen by Reuters showed.

After the meetings, an offering of US dollar-denominated five-year fixed-rate sustainable senior unsecured sukuk will follow, subject to market conditions, it said.

SNB has mandated Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, HSBC, Mizuho, SNB Capital and Standard Chartered Bank as joint lead managers and bookrunners. HSBC is also acting as sole ESG agent, it said.

Source: TheEdge - 20 Feb 2024

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