Saudi British Bank (SABB), the lender 40 percent owned by HSBC Holdings Plc (HSBA), raised 1.5 billion riyals ($400 million) from a private placement of Islamic bonds.
The bank issued the five-year, floating-rate notes to return 120 basis over the three-month Saudi Interbank Offered Rate (SAIB3M), according to data compiled by Bloomberg. HSBC Saudi Arabia Ltd. was the sole sale manager………………………………………..Full Article: Source