SABB plans to issue dollar-denominated bonds in Q3-15: report

11/08/2015 Argaam

The Saudi British Bank (SABB), the kingdom's sixth-largest bank by assets, is planning to issue dollar-denominated bonds in international markets during the third-quarter of this year, Reuters reported, citing unnamed sources familiar with the matter.

 

The new bonds will be used to refinance $600 million in existing debt, which is set to mature in November. HSBC, which owns a 40 percent stake in SABB, is expected to arrange the issue during the quarter, subject to market conditions.

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