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Saudi National Bank has issued $1.25 billion in dollar-denominated Tier 2 notes at a profit rate of 6.00%.
The Reg S 10-year non-call 5 notes are being issued under the bank’s $10 billion Euro medium Term Note programme.
In a separate statement on Tadawul, the lender said it will redeem 4.2 billion riyals ($320 million) Tier 1 capital sukuk at face value on June 30, five years after the date of issuance.
(Writing by Brinda Darasha; editing by Seban Scaria)
