Saudi Hollandi Bank, the kingdom’s eighth-largest bank, has completed a SR1.4 billion ($373.3 million) Islamic bond issue. The subordinated sukuk, which will boost the bank’s Tier two capital ratio, has a seven-year maturity but can be redeemed by the issuer after the end of the fifth year, the statement added.
No detail was provided on what the bank’s Tier two ratio was before and after the offering. Tier two is a measure of the bank’s supplementary capital reserves………………………………………..Full Article: Source