National Commercial Bank Plans to Issue Tier-1 Sukuk While Fully Redeeming Another

Saudi Arabia’s National Commercial Bank (NCB) is planning to raise funding by issuing a SAR denominated additional Tier-1 Sukuk through a private placement, according to a bourse filing made by NCB.

Funds raised through the Sukuk issuance will be utilized towards strengthening NCB's capital base in accordance with the Basel III framework. According to the filing, the value of the Sukuk will be determined based on market conditions subject to applicable laws and regulations.

NCB has appointed NCB Capital as the sole book runner, lead arranger and lead manager for the potential Sukuk issuance. 

In addition, NCB has also announced that it will...