SNB to issue dollar-denominated Sukuk sale

Logo of Saudi National Bank 

Saudi National Bank (SNB) announced its plan to issue dollar-denominated Sukuk under its international Sukuk program launched on Nov. 15, 2021, according to a bourse statement.

The offer is expected to be through a special purpose vehicle and will be offered to eligible local and international investors.

The bank mandated Citigroup Global Markets Ltd., Emirates NBD, Goldman Sachs International, HSBC Bank plc, Mizuho International plc and SNB Capital as joint lead managers and bookrunners of the proposed offer.

The amount and terms of the offer will be determined as per the market conditions.

The issue aims to fulfill the lender's general corporate purposes as well as financial and strategic objectives.

The offer is subject to the approval of the relevant regulatory authorities, and in line with the applicable laws and regulations.

This announcement is not intended as an invitation or offer to purchase, acquire, or subscribe to any securities and is subject to the terms and conditions of the Sukuk.