Saudi British Bank prices 5-yr $600 mln bond
The deal priced at 170 basis points over midswaps.
November 10, 2010 12:07 by Reuters
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)