Middle East Economic Survey

VOL. XLVII

No 50

13-December-2004

CAPITAL MARKETS

Saudi Hollandi Bank To Issue Bond

Saudi Hollandi Bank (SHB) announced it will launch a bonds issue to raise tier-II capital. Although the offering is estimated at SR700mn ($186.7mn), its ultimate size will depend on investors demand. The subordinated callable floating rate notes are tradable and have a maturity term of seven years (they are due in 2011). The special feature of this offering is to grant the issuer a call...