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SNB Capital, the investment banking and asset management arm of Saudi National Bank (SNB), has launched a three-year loan of up to $500 million.
Mizuho Bank is the mandated lead arranger and bookrunner on the deal, which has a base size of $350 million and a $150 million greenshoe option, IFR reported. The borrowing offers an interest margin of 80bps over SOFR.
Commitments are due by April 13.
The latest borrowing follows last month’s move by SNB to upsize its five-year term loan to $1.5 billion with an all-in pricing of 104.7bps, via an interest margin of 90bps over SOFR.
(Writing by Bindu Rai, editing by Seban Scaria)
