30.03.2012 - $400mln Sukuk sold by bank
Saudi British Bank sold a five-year 1.5 billion riyal ($400 million) Islamic bond, or sukuk, in a private placement, a source said. "It was a subordinated sukuk, maturing in 2017. The pricing was 120 basis points over sibor (Saudi interbank offered rate)," the source said. The bank is an affiliate of HSBC and posted a 65 per cent rise in fourth quarter profit on lower operating costs...............................................Full Article: Source
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