Riyadh – Mubasher: Saudi Arabia's Arab National Bank (ANB) said Thursday it has successfully issued SAR 2 billion of 10-year sukuk through a private placement, according to a bourse statement on Thursday.

The bank has the right to call the sukuk after five years, it said.

The sukuk’s expected yield was defined at 140 basis points over the six-month Saudi interbank offered rate (Sibor).

The Tadawul-listed lender said the issue proceeds will bolster its capital base, in addition to expanding its Sharia-compliant activities.