SNB hires advisors for its potential FCY Sukuk issuance

Saudi National Bank (SNB) is planning to issue an unspecified amount of USD-denominated sukuk, it said in a disclosure to Tadawul yesterday. There’s still no publicly available information about the size and terms of the potential transaction.

What we know: The issuance will be made available for subscription to eligible investors locally and internationally through a special purpose vehicle with proceeds earmarked to support the bank’s financial and strategic objectives.

ADVISORS- SNB hired Emirates NBD, Dubai Islamic Bank (DIB), Goldman Sachs International, HSBC Bank, Mizuho International, SNB Capital and Standard Chartered Bank as joint lead managers and bookrunners on the transaction.