Samba completes $1 bln USD-denominated bond issue

Samba Financial Group (Samba) said it had completed an issue of $1 billion USD-denominated international bonds, under its $5 billion Euro Medium Term Note (EMTN) program, the bank said in a statement to Tadawul.

Samba has mandated First Abu Dhabi Bank, Goldman Sachs International, HSBC, Samba Capital & Investment Management Co. and Standard Chartered Bank as joint lead managers for the proposed program.

There are 5,000 bonds, at a par value of $200,000 each, issued at a discount of 99.468 percent.

The bond’s return stands at 2.75 percent with a yield of 2.865 percent per annum.

Notes are expected to mature in five years, and they may be subject to early redemption at the option of Samba. A bond settlement is forecast to take place on Oct. 2, 2019.

Notes will be listed on the Irish Stock Exchange plc trading as Euronext Dublin (Euronext Dublin). Earlier this month, Samba Financial Group (Samba) said it planned to offer notes under its $5 billion Euro Medium Term Note (EMTN) program establish on July 15, 2019.