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Saudi Arabia’s Samba Financial Group has issued $1 billion international notes under its $5 billion Euro Medium Term Note Programme.
The maturity date of the issuance is in five years, generating a 2.865 percent annual yield. The notes are listed on the Irish Stock Exchange.
First Abu Dhabi Bank, Goldman Sachs International, HSBC, Samba Capital & Investment Management Company and Standard Chartered Bank are the joint lead managers for the offer.
According to Reuters, Samba is expected to be one of the banks managing Aramco IPO.
Saudi Arabia intends to list 1 percent of Saudi Aramco on Tadawul before the end of 2019 and another 1 percent in 2020, Reuters reported.
Samba reported a 24.84 percent drop in Q2 2019 net profit to 935 million Saudi riyals, down from 1.24 billion riyals in Q2 2018.
(Writing by Gerard Aoun, editing by Seban Scaria)
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© ZAWYA 2019
