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NCB plans issuing dollar Additional Tier 1 Sukuk

NCB plans issuing dollar Additional Tier 1 Sukuk
The potential offer aims to enhance the bank's tier 1 capital.
NCB
1180
-0.10% 49.85 -0.05

Riyadh – Mubasher: The National Commercial Bank (NCB) said on Sunday that NCB Tier 1 Sukuk Limited, an exempted company with limited liability in the Cayman Islands, intends to issue US dollar-denominated Additional Tier 1 Sukuk.

The potential offer aims to enhance the bank's tier 1 capital as well as for general corporate purposes. The number and value of any Sukuk to be offered will be determined as per market conditions, according to a bourse disclosure. 

NCB has hired Citigroup Global Markets Limited, Emirates NBD Capital, Goldman Sachs International, J.P. Morgan Securities plc, MUFG Securities EMEA plc, NCB Capital Company, and Standard Chartered Bank as Joint Lead Managers and Bookrunners for the potential offer.