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Logo of Saudi National Bank (SNB)
Saudi National Bank (SNB) started today, June 17, the issuance of US dollar-denominated Tier 2 debt instruments through a special purpose vehicle to qualified investors inside and outside the Kingdom, according to a statement to Tadawul.
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The final issuance value and offering terms will be determined based on market conditions.
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Issuance Details |
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Type |
US dollar-denominated Tier 2 debt instruments |
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Value |
The final issuance value and offering terms will be determined based on market conditions. |
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Start of Issuance |
June 17, 2025 |
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End of Issuance |
June 18, 2025 |
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Target Investors |
Qualified investors inside and outside Saudi Arabia |
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Issuance Manager |
Abu Dhabi Commercial Bank (ADCB), DBS Bank, Emirates NBD, Goldman Sachs, HSBC, J.P. Morgan Securities, Mashreqbank, Mizuho International, SNB Capital, SMBC Nikko Capital Markets, and Standard Chartered Bank collectively as joint lead managers and joint bookrunners |
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Minimum Subscription Value |
$200,000 and in increments of $1,000 |
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Offering Price |
Subject to market conditions |
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Par Value |
$200,000 |
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Return |
Subject to market conditions |
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Maturity |
Callable after 10 years |
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Terms of Redemption |
The debt instruments may be redeemed in certain cases as detailed in the offering circular |
The statement emphasized that the announcement does not constitute an invitation or offer to purchase, acquire, or subscribe to any securities.
SNB said it will disclose any material developments in due course, in accordance with applicable rules and regulations.
The debt instruments will be listed on the London Stock Exchange's International Securities Market. It may be sold under Regulation S of the US Securities Act of 1933, as amended.
The expected offering end date above is subject to market conditions.
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