Saudi Bank Albilad mandates banks on USD-denominated AT1 sukuk
HSBC Bank plc, Albilad Capital, Goldman Sachs International, and Emirates NBD Bank PJSC are tapped as joint lead managers for the proposed issuance.
The amount and terms will be decided later depending on market conditions. The proceeds of the issuance will be used to support the lender's capital base.
Al Bilad Bank made a net profit of SAR 700 million ($186.7 million) for Q1 2025, 9% higher on year. Assets rose 11% year-on-year to SAR 159 billion.
The bank has a total of SAR 5 billion in outstanding debt, according to LSEG data.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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