#Saudi Arabia's Bank Al Bilad prices 2 bln riyal #sukuk issue
Saudi Arabia's Bank Al Bilad priced an Islamic bond issue worth 2 billion riyals ($533 million) at 200 basis points above the three-month Saudi interbank offered rate. The sukuk have a tenor of 10 years, with the bank having the right to call the bond at the end of the fifth year. They were sold through a private placement. Bank Al Bilad said the raised funds would support its capital base in line with Basel III standards.
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