IslamicFinance.de

According to a recent statement, Saudi Hollandi Bank has completed a SR1.4 billion ($373.3 million) sukuk issue. It is further said that despite the seven-year maturity of the subordinated sukuk, it can be redeemed by the issuer after the end of the fifth year. The price of the Islamic bond 1.15% higher than the six-month Saudi interbank offered rate. The issuance was marketed to Saudi investors, among which were government funds, banks, insurance companies, corporates and sophisticated investors.