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Saudi British Bank prices 5-yr $600 mln bond

The deal priced at 170 basis points over midswaps.

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November 10, 2010 12:07 by



Saudi British Bank (SABB) priced a $600 million five-year bond on Tuesday, with a coupon of 3 percent, according to sole lead arranger HSBC .

The deal priced at 170 basis points over midswaps, marginally tighter than guidance.

SABB has a five-year 325 million euro ($454 million) bond maturing in April. HSBC was the sole bookrunner on that offering.

(Reporting by Rachna Uppal; Editing by Amran Abocar)



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