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Saudi British Bank sells 1.5 bln riyal capital-boosting sukuk
May 28, 2015 / 1:26 PM / 2 years ago

Saudi British Bank sells 1.5 bln riyal capital-boosting sukuk

DUBAI, May 28 (Reuters) - Saudi British Bank (SABB) has completed a private placement of 10-year, 1.5 billion riyal ($400 million) subordinated Tier 2 sukuk callable in five years, it said in a bourse statement on Thursday.

The announcement confirmed a report by Reuters earlier this month.

The Sukuk carries a semiannual profit of 6 months SIBOR + 1.30 percent. (Reporting by Olzhas Auyezov; editing by Matt Smith)

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