By Sarah Lizee
Olympia, Wash., Sept. 30 – Samba Financial Group priced $1 billion of 2¾% five-year bonds, according to a press release.
The issue is the first drawdown under the company’s $5 billion euro medium-term note program.
“This issuance is Samba’s first transaction since 2006 and was received with immense investor demand as evidenced by an orderbook that reached over $3.7 billion, representing an oversubscription rate of 3.7 times,” the company said.
The strong investor reception allowed Samba to significantly tighten pricing by 25 basis points from initial price talk of mid-swaps plus 165 bps to final pricing of mid-swaps plus 140 bps.
Samba appointed First Abu Dhabi Bank, Goldman Sachs International, HSBC, Samba Capital and Standard Chartered Bank as joint lead managers and bookrunners.
The bank is based in Riyadh, Saudi Arabia.
| Issuer: | Samba Financial Group
|
| Issue: | Bonds
|
| Amount: | $1 billion
|
| Maturity: | 2024
|
| Bookrunners: | First Abu Dhabi Bank, Goldman Sachs International, HSBC, Samba Capital and Standard Chartered Bank
|
| Coupon: | 2¾%
|
| Spread: | Mid-swaps plus 140 bps
|
| Announcement date: | Sept. 25
|
| Price talk: | Mid-swaps plus 165 bps
|
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