27.11.2012 - SHB issues 4th SR-denominated sukuk
Saudi Hollandi Bank (SHB), the oldest banking franchise in Saudi Arabia, 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 said. The sukuk priced at 1.15 percent over the six-month Saudi interbank offered rate, it added. Shareholders approved the issue of the sukuk in early October...............................................Full Article: Source
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