NCB picks lenders for sukuk issue | NCB picks lenders for sukuk issue -

NCB picks lenders for sukuk issue

: Sunday, February 02 - 2014 @ 00:41

Saudi lender, National Commercial Bank (NCB) has selected NCB Capital, Gulf International Bank, the Saudi units of HSBC and JP Morgan to arrange a local currency sukuk, joining a trend of lenders in the kingdom using Islamic bond markets to top up their capital reserves, Reuters has reported. The sukuk will enhance the NCB’s Tier 2 capital and will have a 10-year lifespan, with an option of the bank redeeming the instrument after five years. The size of the issue has yet to be determined.

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Sunday, February 2- 2014 @ 0:41 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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