Arab National Bank to price 10-year subordinated notes

By Rebecca Melvin

New York, Oct. 21 – Arab National Bank plans to price a 10-year subordinated tier 2 sukuk (Baa3//BBB-), to be issued by ANB’s special purpose vehicle ANB Sukuk Ltd., according to market sources.

The notes are non-callable for five years, and one source said the deal size is $500 million.

J.P. Morgan Securities plc, HSBC, Arab National Investment Co. and JSC are managers of the offering.

The lender is based in Riyadh, Saudi Arabia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.