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Saudi National Bank (SNB) has increased its five-year term loan to $1.5 billion after attracting 37 banks in general syndication.
Chinese banks made up the largest lender group, with a dozen institutions contributing a combined $676 million—about 45% of the facility—while 11 Taiwanese banks provided $309 million, or roughly 20.6%.
DBS Bank and MUFG acted as mandated lead arrangers and bookrunners on the latest unsecured financing, which was launched in December at an initial size of $1 billion.
The loan offered all-in pricing of 104.7 basis points, via an interest margin of 90 basis points over SOFR, and carries an average life of 4.75 years. DBS and MUFG each retained final holds of $20 million.
SNB, rated A/A by S&P and Fitch, is the largest financial institution in Saudi Arabia. The bank previously closed a $1 billion dual-tranche loan in July last year, attracting 27 participating banks, and raised another $1 billion dual-tranche facility in December 2024 that drew interest from 17 banks, according to LSEG LPC data.
(Written by Farah Heiba; Edited by Brinda Darasha)
