Financial and Banking News


NCB FRNs Well Received

The National Commercial Bank (NCB) of Jiddah has raised $200mn from an issue of unsubordinated floating rate notes (FRNs) which were well received in the market. The deal was lead managed by Bank of America Capital Markets Group, Credit Suisse First Boston and Lehman Brothers International, and included the London-based A1 Mal group as the only Arab institution in the co-management group. The FRNs have a 10-year maturity...