Riyadh - Mubasher: The Saudi National Bank (SNB) intends to issue USD-denominated Tier 2 capital notes under its Euro Medium Term Note (EMTN) program.
The proceeds aim to enhance the bank’s Tier 2 capital and boost its financial as well as strategic goals, according to a bourse filing.
The issuance will be carried out via a special purpose vehicle and offered to eligible investors in Saudi Arabia and overseas.
SNB has appointed a consortium of leading financial institutions to act as joint lead managers and joint bookrunners for the proposed offering.
The mandated banks include ADCB, DBS, Emirates NBD, Goldman Sachs, HSBC, J.P. Morgan, Mashreq, Mizuho, SNB Capital, SMBC, and Standard Chartered.
The value and specific terms of the offer will be disclosed at a later date based on market conditions, while the issuance remains subject to regulatory approvals.
In the first three months (3M) of 2025, SNB reported net profit worth SAR 6.02 billion, marking an annual increase of 19.48% from SAR 5.04 billion.
