JEDDAH: Saudi Hollandi Bank (SHB) plans to issue a SR 1.4 billion ($ 373 million) private placement sukuk, or Islamic bond, according to a bank statement posted on the Tadawul website yesterday.
"Saudi Hollandi Bank's board of directors yesterday approved the issuing of sukuk worth 1.4 billion riyals as a private offering to support its capital base by using a Shariah-compliant structure," SHB added.
The issue is subject to the approval of the capital market authorities.
SHB to issue SR 1.4 bn sukuk
