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Saudi Hollandi places $666m sukuk

Riyadh, December 15, 2013

Saudi Hollandi Bank has privately placed a 2.5 billion riyal ($666.6 million) tier 2 Islamic bond or sukuk, the lender said in a bourse statement on Sunday.

The sukuk, which will support the Bank's capital base, has a tenor of ten years. It carries a half yearly profit of six- month Saudi Interbank Offered Rate (SIBOR) plus 1.55 per cent.-Reuters




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