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SNB plans to issue US dollar senior Sukuk

SNB plans to issue US dollar senior Sukuk
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Riyadh – Mubasher: The Saudi National Bank (SNB) plans to issue US dollar-denominated senior unsecured Sukuk to achieve its financial and strategic objectives.

To be eligible for local and international investors, this issuance is part of the bank's international Sukuk programme, launched on 15 November 2021, according to a recent bourse filing.

The bank will set the amount and terms of the offer subject to the market conditions.

Meanwhile, Citigroup Global Markets Limited, Emirates NBD Bank, Goldman Sachs International, HSBC Bank, Mizuho International, and SNB Capital Company was appointed to act as joint lead managers and bookrunners in the offer.

It is noteworthy to mention that during the third quarter (Q3) of 2021, the bank registered a 19.8% annual growth in net profits to SAR 3.78 billion from SAR 3.15 billion.