DUBAI - Saudi Arabian lender Arab National Bank 1080.SE is expected to sell $750 million in 10-year U.S. dollar-denominated sukuk, or Islamic bonds, that are non-callable for five years, a document showed on Wednesday.
It set the final spread at 290 basis points (bps) over mid-swaps after giving initial price guidance of around 325 basis points over mid-swaps when it began marketing the Tier 2 sukuk earlier on Wednesday, according to the document from one of the banks arranging the deal, which is expected to launch on Wednesday.
ANB received more than $2 billion in orders for the sukuk.
HSBC, JPMorgan and Arab National Investment Company were hired to arrange the debt sale.
(Reporting by Yousef Saba; Editing by Jason Neely and Alison Williams) ((Yousef.Saba@thomsonreuters.com; +971562166204))