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The Saudi National Bank announces its intention to issue U.S. Dollar denominated notes under its euro medium term note programme
| Element List | Explanation |
|---|---|
| Introduction | The Saudi National Bank announces its intention to issue U.S. Dollar denominated tier 2 capital notes (the “Notes”) under its euro medium term note programme. The issuance is expected to be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally (the “Proposed Offer”). The Saudi National Bank has mandated Abu Dhabi Commercial Bank PJSC, DBS Bank Ltd., Emirates NBD Bank P.J.S.C., Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, Mashreqbank psc, Mizuho International plc, SNB Capital Company, SMBC Bank International plc and Standard Chartered Bank as Joint Lead Managers & Joint Bookrunners in relation to the Proposed Offer. |
| Offer Type | U.S. dollar denominated tier 2 capital notes. |
| Date of the board’s decision | 2024-11-11 Corresponding to 1446-05-09 |
| Value of the offer | The amount and terms of the offer of the Notes will be determined at a later stage based on market conditions. |
| The Purpose of the offer | Improvement of Tier 2 Capital, general corporate purposes and to fulfill The Saudi National Bank’s financial and strategic objectives. |
| Approvals | The Proposed Offer of the Notes will be subject to the approval of the relevant regulatory authorities, as applicable, and will be made in compliance with relevant laws and regulations. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Notes. The Saudi National Bank will announce any other relevant material developments in due course as required by the relevant laws and regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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