PHOTO
The logo of the Saudi National Bank (SNB) can be seen at the banks' headquarters in Riyadh on March 27, 2023, after the chairman of SNB, the main shareholder of troubled lender Credit Suisse which was bought out this month, resigned. (Photo by Fayez Nureldine / AFP).
Saudi National Bank plans to issue SAR-denominated Additional Tier 1 sukuk.
SNB Capital Company has been named as sole bookrunner, lead arranger and lead manager for the proposed offer.
The amount and terms of the offer will be determined subject to the market conditions.
The proceeds from the potential issuance will be utilised to strengthen the bank’s capital base.
The offer is expected to be open to eligible investors in Saudi Arabia.
(Writing by Brinda Darasha; editing by Seban Scaria)
