(Bloomberg) -- Saudi Arabia’s National Commercial Bank hired advisers to tap the dollar bond market, joining rivals in the neighboring United Arab Emirates to take advantage of investors’ appetite for yield.
The bank mandated Citigroup Inc., Emirates NBD PJSC, Goldman Sachs Group Inc., JPMorgan Chase & Co., Mitsubishi UFJ Financial Group, NCB Capital and Standard Chartered Plc as lead managers and bookrunners for the potential Islamic bond offering, according to a statement.
The unprecedented monetary stimulus to help economies stung by the coronavirus crisis has brought yields near or below zero in developed markets and has encouraged issuers to offer debt while it remains cheap to do so. Dubai’s Emirates NBD and First Abu Dhabi Bank PJSC tapped the bond market earlier this month.
- The advisers will arrange a global investor conference call on Monday and a series of fixed-income investor calls, according to a person familiar with the matter, who asked not to be identified because the matter is private
- A benchmark fixed-rate USD-denominated Regulation S PNC6 Basel III compliant Tier 1 sukuk unrated offering will follow, subject to market conditions
- NCB is rated A1 (negative) by Moody’s, BBB+ (positive) by S&P and A- (negative) by Fitch
National Commercial Bank, the largest bank in Saudi Arabia by assets, is in the process of taking over Samba Financial Group.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
