Saudi Hollandi bank said on Tuesday it has completed an Islamic bond issue worth SR775 million ($206.7 million) and would seek to raise another SR725 million to boost its capital.

The Islamic bond (sukuk), had a 10-year maturity and was priced at 200 basis points above the Saudi Interbank Offered Rate, which stood at 3.1925 percent for one-year maturities on Tuesday.-Reuters