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#Saudi Investment Bank closes 500 million riyals #sukuk

Tue, 2016-11-22 12:59 — newsdesk

Saudi Investment Bank closed a 500 million riyals ($133.3 million) Tier 1 sukuk sale on Monday. The subordinated Islamic bond was sold privately. The debt transaction will boost the bank's capital base and its capital adequacy ratio, in addition to diversifying the Saudi bank's funding sources and its maturity profile. The joint lead managers of the transaction were Alistithmar for Financial Securities and Brokerage and J.P. Morgan Saudi Arabia.

Source: 

http://www.reuters.com/article/saudi-investment-sukuk-idUSD5N1CO040