Arab National Bank intends to issue Tier 2 capital notes denominated in US dollars; To be offered inside and outside the Kingdom of Saudi Arabia to qualified investors.
According to Arabiya Net, the Arab Bank, according to a statement published on the Saudi Market Tadawul website, appointed HSBC CBC and LG. B. Morgan Securities plc as the IPO and IPO Manager, in addition to the Arab National Investment Company as the IPO Manager, to hold calls with local and international investors starting from October 19, 2020.
The approval of the Bank's Board of Directors was issued on September 22, 2020, to issue and offer Sukuk according to market conditions and the bank's financial and strategic needs.
The value and terms of the sukuk offering will be determined based on market conditions.
