Tawasul
Mubasher TV
Contact Us Advertising   العربية

ANB plans issuing US dollar-denominated Tier 2 capital Sukuk

ANB plans issuing US dollar-denominated Tier 2 capital Sukuk
The Sukuk issue will support the bank’s capital base and fulfill its financial and strategic needs.
ANB
1080
-0.40% 20.10 -0.08

Riyadh – Mubasher: Arab National Bank (ANB) intends to issue US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally.

The lender’s board approved on 22 September 2020 the Sukuk issuance and offering, subject to market conditions and in line with the bank's financial and strategic needs, according to a bourse statement on Monday.

The amount and terms of the Sukuk offer will be determined as per market conditions. Moreover, the issue aims to support the bank’s capital base and fulfil its financial and strategic needs.

ANB mandated HSBC Bank plc and J.P. Morgan Securities plc as joint lead managers and bookrunners and, together with Arab National Investment Company (ANB Invest), as joint lead manager, to do a series of investor calls, including a global investor call, commencing on 19 October 2020.

Further details will be announced in due course, the statement concluded.