The Saudi National Bank intends to issue additional tier-two "green" capital bonds denominated in US dollars, Al-Eqtisadiah reported on August 25.
The bank said in a statement to Tadawul that the issuance aims to improve tier-two capital for general banking purposes and to meet its financial and strategic objectives. The value and terms of the green bonds will be determined according to market conditions.
The issuance will target qualified investors inside and outside Saudi Arabia. The bank has appointed HSBC Bank PLC, Goldman Sachs International, Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, DBS Bank Ltd, Emirates NBD Bank PJSC, Mashreqbank PSC, Mizuho International PLC and Societe Generale as joint lead managers for the potential offering.
The Saudi National Bank clarified that the announcement does not constitute an invitation or offer to purchase, own or subscribe to any securities, and remains subject to the terms and conditions of additional tier-one perpetual capital sukuk. The bank will announce any other material developments to shareholders in due course according to relevant regulations and rules.
Green bonds are debt securities specifically earmarked to raise money for climate and environmental projects, representing a growing financing trend among Middle Eastern banks seeking to support sustainable development initiatives.
Related Articles
Islamic Development Bank raises €500mn through green sukuk issuance
The Islamic Development Bank successfully raised €500mn ($546mn) through its latest benchmark green sukuk issuance under the enhanced sustainable financing framework for 2025, the Saudi Press ... more
Saudi Arabia's Sico Bank forecasts Q3 2025 earnings for major firms
Sico Investment Bank has released its earnings forecasts for the third quarter of 2025, covering banks and companies within its coverage of the Saudi stock market, as Argaam reported on October ... more
OPEC+ set to approve output hike
OPEC+ is set to raise oil output in November and aims to reclaim its global market share, according to Bloomberg. Citing sources that were present at the group’s recent meeting, the media outlet ... more