SNB plans to issue USD-denominated debt instruments
Saudi National Bank (SNB) announced today, June 12, its intention to issue US dollar-denominated Tier 2 debt instruments under its Euro Medium Term Note (EMTN) program.
The issuance will be through a special purpose vehicle and offered to qualified investors both inside and outside the Kingdom, SNB said in a statement to Tadawul.
SNB said that the value and terms of the offer will be determined subject to the market conditions.
The bank aims to strengthen Tier 2 capital for its general commercial purposes and to meet its financial and strategic goals.
SNB appointed Abu Dhabi Commercial Bank (ADCB), DBS Bank Ltd., Emirates NBD Bank (ENBD), Goldman Sachs International, HSBC Bank PLC, J.P. Morgan Securities PLC, Mashreqbank, Mizuho International PLC, SNB Capital, SMBC Nikko Capital Markets Limited, and Standard Chartered Bank collectively as joint lead managers and joint bookrunners for the potential offering.
The offer will be subject to the approval of relevant regulatory authorities and will be in compliance with the applicable laws and regulations.
This announcement is not intended as an invitation to purchase, acquire, or subscribe to any securities and is subject to the terms and conditions of the notes.
The bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
5 hours ago
- Arab News
Saudi Arabia re-elected to IGC administrative committee
RIYADH: The International Grain Council re-elected Saudi Arabia as a member of the administrative committee for the 2025-2026 session during its 62nd meeting in London on Thursday, retaining the Kingdom among 16 elected members chosen from 30 countries. Saudi General Food Security Authority Chairman Ahmed bin Abdulaziz Al-Fares said that Saudi Arabia's renewed committee membership confirmed its expanding role in international forums and its significant economic influence on both international and regional stages. Since joining the board on Sept. 1, 2010, the Kingdom has actively contributed to board decisions that enhance global grain market stability.
Arab News
6 hours ago
- Arab News
Saudi Cycling Federation signs strategic partnership with global cycle powerhouse
RASHID: The Saudi Cycling Federation has signed a strategic partnership agreement with GreenEdge Cycling that will transform the sport in the Kingdom by raising technical standards, and developing both male and female athletes. The agreement includes technical support based on GreenEdge's global expertise and capabilities, Saudi Press Agency reported on Friday. In an important step in the development of cycling in the Kingdom, the partnership aims to enhance athletes' skills and abilities, striving to achieve professional technical standards and notable accomplishments in international arenas. SACF President Abdulaziz Al-Shahrani said that the partnership with GreenEdge Cycling reflects the federation's aim of strengthening international collaborations and expanding growth opportunities. He described it as a milestone in transforming cycling in Saudi Arabia into a competitive and sustainable sport with a strong technical presence on the global stage. Al-Shahrani also expressed gratitude for the support extended to the sports sector by the Saudi leadership and the follow-up by Minister of Sport Prince Abdulaziz bin Turki bin Faisal, president of the Saudi Olympic and Paralympic Committee, who is committed to advancing Saudi clubs and national teams across all sports. With over 180 competitors across four different teams — men and women's UCI WorldTour Teams plus men and women's UCI Continental teams — GreenEdge Cycling has a wealth of knowledge and experience to offer the Saudi federation. The partnership will create a new system and pathway for the federation to grow into a world-leading and results-based organization, a statement by GreenEdge Cycling said. Commenting on partnership, Brent Copeland, GreenEdge Cycling general manager, said: 'We are happy to share the news of this partnership with the Saudi Cycling Federation. There's a lot of untouched talent within the Kingdom and we are delighted to be involved with and support their development. Providing the Saudi Cycling Federation with access to our extensive resource pool, we are confident that we can help make a real impact and assist in the growth of cycling within the nation. 'Already through our naming rights partner, AlUla, we have had the opportunity to make a change and support with the development of talent, with the likes of Moroj Adil, the first female Saudi rider to join a UCI Continental Team, as she races with our Liv AlUla Jayco Continental team setup. It is inspiring for all involved as we look ahead and to helping future generations,' he added.
Argaam
11 hours ago
- Argaam
Wall Street's VIX jumps over 22% today
The Wall Street's fear gauge surged sharply on Friday, fueled by rising geopolitical tensions in the Middle East following Israeli airstrikes on Iranian facilities. The VIX, which measures volatility expectations on Wall Street, jumped 22.1% to 21.99 points as of 10:39 am KSA time. This spike coincided with a drop in US stock futures, as Dow Jones futures fell 1.3% to 42,429 points, with S&P 500 futures falling 1.35% to 5,967 points. Earlier today, June 13, Israel launched airstrikes targeting Iranian nuclear facilities, stating that the operation aimed to disrupt Tehran's nuclear advancement. These developments triggered market anxiety, as investors feared a widening conflict in the region. This prompted a shift away from riskier assets toward safe havens amid growing geopolitical uncertainty and its potential global market impact.
