Riyadh – Mubasher: Samba Financial Group announced its intention to issue notes under its $5 million Euro Medium Term Note Programme, which was established on 15 July 2019. The new offering will be facilitated through a special purpose vehicle with a guarantee from Samba as per the terms determined by Samba and subject to market conditions, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday.
Samba highlighted that investor meetings will be held as of 17 September 2019 to discuss the notes issuance.
Additionally, Samba has named First Abu Dhabi Bank (FAB), Goldman Sachs International, HSBC, Samba Capital & Investment Management Co., and Standard Chartered Bank as joint lead managers for the proposed offering.
Samba’s offering conforms to the approval of competent authorities and pursuant to relevant rules and regulations.
It is worth noting that in July, Moody's Investors Service assigned provisional senior unsecured foreign-currency ratings of (P)A1/ (P)P-1 to the $5 billion Euro Medium-Term Note (EMTN) programme of Samba Funding Limited.
