Financial and Banking News


Riyad Bank Wins Saudi Cable Mandate

Riyad Bank has been mandated by the Saudi Cable Company (SCC) to raise a SR150mn ($41mn) revolving underwriting facility. Believed to be the first time such an instrument has been used in the domestic market, the Riyad Bank facility will run for seven years, and will be signed in early December, possibly with the involvement of three other Saudi banks.

Saudi Medical Services: The SR150mn loan arranged by...