- RIYADH: The Saudi British Bank- SABB has successfully concluded the issuance of an international $600 million five-year eurobond.
- The notes are senior bonds that pay a 3 percent annual fixed coupon rate on a semi annual basis.
The bonds issued under the $1.6 billion EMTN program, gained a great success as it was oversubscribed. The bonds rated as “A” stable by Fitch and S&P were listed for trading in London Stock Exchange.
David Dew, managing director of SABB, said: “We are delighted with the level of interest shown by the investors and the fact that the issue was oversubscribed. SABB’s success in this issuance is testimony to its credit fundamentals and a demonstration of the international investors’ confidence in SABB and the solid Saudi economy.”