National Commercial Bank Completes Private Placement of SAR 4.2 Billion Additional Tier 1 Sukuk

In a publication on the Saudi Stock Exchange (Tadawul), Saudi Arabia-based National Commercial Bank (NCB) announced the completion of its Additional Tier 1 Sukuk offering via private placement. With a par value of SAR 1 million, the SAR 4.2 billion issuance carries a profit rate of 4.25% per annum.

NCB has mandated NCB Capital as the sole lead arranger, lead manager and book-runner for the private placement offer.

According to NCB, this announcement is not to be considered as an invitation or offer to purchase, acquire or subscribe to any securities. Furthermore, the announcement is subject to the terms and conditions of the Sukuk.

The announce...