National Bank in Saudi in US $ 1.25 billion in dollar-denominated Tier 2 short notes, at a rate of profits of 6.00 percent, so many oversubscribes.
Bloomberg reported The order of the books exceeded $ 2 billion, according to someone who is familiar with this matter, asking to be unknown.
The bank also announced the Tadawul to redeem it in a SAR 4.2 billion (US $ 1.12 billion) Tier 1 Capital Sukuk on June 30, five years after the issue date.
Bloomberg added that the bond can be protected on the right Tuesday, with income available in part to strengthen the capital of chub.
The bank issued 6,250 suks in the amount of US $ 200,000. The time of maturity in Sukuk is 10 years, but happens after five years. The notes listed in the international stock exchange international securities.
Saudi banks add their external debts recently, but the global rating agency S & P says in a report last month it does not translate any “meaningful weaknesses”.
The lower oil prices and geopolitical ribs in the region raises concerns, but S & P said the net outside of the 2028. “
Regarding the redeemed bond of SAR4.2 billion, informed by SUGGUK on 30 June 2020 for Sukuk pattern on 30 June 2025. Regulatory approval has been taken. “The bank says the amount of redemption, along with any accredited but unpaid distribution secrets, payable at the specified day.
