SNB seeks to raise $1B syndicated loan: Report

03:13 PM (Mecca time) Argaam
Logo ofSaudi National Bank Co. (

Logo of Saudi National Bank Co. (SNB)

Saudi National Bank (SNB) is seeking to secure a $1 billion syndicated loan, Bloomberg reported, citing a source.

 

DBS Bank and Mitsubishi UFJ Financial Group are acting as lead arrangers and bookrunners for the five-year loan, the source added.

 

The facility is being marketed to global banks, including lenders from Asia.

 

SNB offered an interest margin of 90 basis points over the secured overnight financing rate, the report said.

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