Logo of Saudi National Bank (SNB)
Saudi National Bank (SNB) intends to issue USD-denominated senior unsecured sukuk under its international sukuk program, updated on Dec. 14, 2023.
The sukuk, expected to be through a special purpose vehicle, will be offered to qualified investors locally and globally, the bank said in a statement to Tadawul.
The amount as well as terms of the offering will be determined at a later stage depending on the market conditions.
The offering proceeds will be directed towards the bank’s general corporate purposes as well as its financial and strategic objectives.
SNB mandated Emirates NBD, Dubai Islamic Bank (DIB), Goldman Sachs International, HSBC Bank, Mizuho International, SNB Capital and Standard Chartered Bank as joint lead managers and bookrunners.
The sukuk offer will be subject to the approval of the relevant regulatory authorities, as applicable, and will be made in compliance with relevant laws and regulations.
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