Riyadh -Mubasher: The Saudi British Bank (SABB) intends to update and amend its previously established international Sukuk programme and set up a local Sukuk programme.
Through the two Sukuk programmes, SABB will issue and offer senior and subordinated Sukuk including the issuance of Tier II capital-eligible Sukuk, in one or more tranches, through one or more issuances, for a private placement or public offering inside or outside of Saudi Arabia, according to a stock exchange statement on Sunday.
For the international programme, the Sukuk will be issued in US dollars or any other currencies at a maximum value of $5 billion, but as for the local programme, the Sukuk will be offered in Saudi riyals at a value not exceeding SAR 5 billion, or their equivalent.
The offering, subject to official competent approvals, aims to meet the bank’s financial and strategic needs.
All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).