Saudi Arabia's NCB raises $1.12bln in sukuk issuance

The number of issued sukuks stood at 4,200 at a par value of 1 million Saudi riyals

  
Islamic finance. Image use for illustrative purpose.

Islamic finance. Image use for illustrative purpose.

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National Commercial Bank (NCB) has completed the issuance of additional tier 1 sukuk denominated in Saudi riyals by way of a private placement.

The issuance amount is 4.2 billion Saudi riyals ($1.12 billion), NCB said in a statement on Tadawul.

The number of issued sukuks stood at 4,200 at a par value of 1 million Saudi riyals and with a return of 4.25 percent per annum.

Saudi Arabia’s biggest lender mandated NCB Capital as sole book runner, lead arranger and lead manager for the private placement offer.

(Writing by Gerard Aoun, editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

#SUKUK #SAUDI #NCB

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