IFLR1000

The National Commercial Bank SR2.7 billion AT1 sukuk

23/12/2015
Sukuk, Private placement of bonds/notes
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SR 2.7 billion

$ 719.982 million

Completed

23/12/2015

Overview:

  • The National Commercial Bank (NCB) has undertaken a SR2.7 billion additional Tier 1 (AT1) sukuk (Islamic bond) issue.
  • The issue was undertaken via a private placement.
  • NCB Capital acted as arranger and lead manager.
  • The deal follows a similar issue in June 2015 and July 2015.

Sam Duke - Editor

Jurisdictions:

Saudi Arabia
United Arab Emirates

Deal types:

Sukuk
Private placement of bonds/notes

Practice areas:

Capital markets : Debt
Islamic finance

Firms:
Baker McKenzie

Party: NCB Capital (Lead manager, Arranger)

Derayah

Party: The National Commercial Bank (Issuer)

Lawyer: Asad Abedi

Linklaters

Party: The National Commercial Bank (Issuer)

Lawyer: Jonathan Fried

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