10.04.2012 - HSBC closes $400mln Sukuk for Saudi unit

Global banking giant HSBC said its Saudi unit has successfully closed the first private placement of SR1.5 billion ($400 million) sukuk (Islamic bond) issue for its affiliate The Saudi British Bank (SABB). The 5-year bond is the first subordinated Tier II sukuk transaction which comes in line with the Basel III transitional arrangement requirements in the region, said a HSBC statement...............................................Full Article: Source

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