NO. 12


Financial and Banking News

Regional Financing

Saudi Arabia Diversifies Sources Of Funding With Innovative FRN Issue

The $272mn floating rate note (FRN) issued in Saudi Arabia and lead managedby Hong Kong and Shanghai Banking Corporation (HSBC) represents an importantstep in the development of the Saudi Government's funding base. The FRN issuewas raised in the name of a special purpose company, but is being used tosupport financing by a Saudi bank Saudi British...