Financial and Banking News


SIB Leads Greek FRN 

Saudi International Bank (SIB) was one of five lead managers of a $250mn issue of floating rate notes (FRNs) for the Bank of Greece. The notes are due in February 1996 with a holders' put option at 100% in 1993 and 1995. The notes carry a 0.25% spread over six month Libor, with a 5.25% minimum commisssion. Commercial Bank of Kuwait (CBK) and National Commercial Bank (NCB) of Jiddah acted as co-managers of the deal.