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Saudi National Bank plans to issue SAR-denominated Additional Tier 1 sukuk.
SNB Capital Company has been named as sole bookrunner, lead arranger and lead manager for the proposed offer.
The amount and terms of the offer will be determined subject to the market conditions.
The proceeds from the potential issuance will be utilised to strengthen the bank’s capital base.
The offer is expected to be open to eligible investors in Saudi Arabia.
(Writing by Brinda Darasha; editing by Seban Scaria)
