Saudi Binladin Group (SBG) has begun marketing a 364-day sukuk issue to local investors in the kingdom which could raise up to SR1 billion ($265 million) for the construction firm, sources aware of the matter said on Thursday.
French bank BNP Paribas has pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve accusations that it had violated US sanctions against Sudan, Cuba and Iran, in a severe punishment aimed at sending a clear message
US authorities negotiating with BNP Paribas over alleged sanctions violations at one point suggested that France's biggest bank pay a penalty as high as $16 billion, according to people familiar with the matter.
While the sour
France said it would defend the interests of its biggest bank BNP Paribas, calling a possible $10 billion-plus US fine "unreasonable" and warning it could have a bearing on transatlantic free trade talks.
Law firms Clifford Chance and Al-Jadaan & Partners acted as the legal adviser on the Saudi Binladin Group’s (SBG) financing for the King Abdulaziz International Airport.
BNP Paribas Investment Company Saudi Arabia and GI
French lender BNP Paribas plans to move some of its back-office operations out of regional hub Bahrain, Reuters said quoting two sources.
The sources, who spoke on condition of anonymity, said BNP may boost existing Gulf locations su
Bahrain attracted $5.5 billion in orders for its $1.25 billion 10-year bond, banking and fund management sources said on Wednesday.
The bond was earlier launched at a spread of 200 basis points over mid-swaps. Lead manag
Foreign banks will become more cautious when lending to Saudi family businesses, following the trouble at two large conglomerates that shook confidence in the region, an executive at France's BNP Paribas said.
Privately-owned firms Saa
BNP Paribas and Citigroup figure among the biggest lenders to Saudi billionaire Maan Al-Sanea with a 16 percent share of $6.3 billion in syndicated loans to him and the Algosaibi family, Bloomberg News reported on Wednesday.
Emirates Lebanon Bank, a fully-owned subsidiary of Bank of Sharjah, and BNP Paribas are in the process of filing for regulatory approval in relation with their contemplated partnership in Lebanon.
As per agreements entered into between th