IslamicFinance.de

Arab News reported on 31 December that Saudi Hollandi Bank closed its SAR 775 mn first tranche of a SAR 1.5 bn Tier-II Sukuk issuance approved by the bank`s shareholders. The 10-year floating rate note is 2 % above SIBOR (Saudi Interbank Offered Rate) and can be called at the end of 5 years. According to the Chairman Mubarak Al-Khafrah Saudi Hollandi is the first to support its capital in this way. Saudi Hollandi Capital acted as sole lead manager & book runner for this transaction.

Geoff Calvert is the managing director.