SNB issues 5-year sukuk worth $850M: Report

20/02/2024 Argaam
Logo ofSaudi National Bank (SNB)

Logo of Saudi National Bank (SNB)

Saudi National Bank (SNB) issued five-year sukuk worth $850 million (SAR 3.2 billion), Reuters reported, citing a document picked up today, Feb. 20.

 

The bank slashed the initial guidance price to 90 basis points (bps) above US treasuries, down from the 120 bps earlier set on Feb. 19.

 

On Feb 19, SNB announced its plan to issue US dollar-denominated senior unsecured sukuk through a special-purpose vehicle. The sukuk shall be offered to qualified investors inside and outside Saudi Arabia, according to Argaam's data.

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