Financial and Banking News


Arab Banks Lead Two FRCD Issues 

Floating Rate Certificates of Deposit worth a total of $50mn were arranged by Arab banks last week. Arab Banking Corporation led a $25mn placement for the London branch of the Moscow Narodny Bank of four year CDs with a spread of 0.1875% over six month Libor. Saudi International Bank arranged a $25mn issue for the London branch of the Korea Ex- change Bank for CDs with a four year maturity and a 0.5% spread...