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LONDON - Saudi Awwal Bank announced plans to issue USD benchmark fixed-rate bonds due September 4, 2035, according to a press release statement issued Wednesday.
HSBC Bank plc will serve as the Stabilisation Coordinator for the bond offering, with multiple financial institutions acting as Stabilisation Managers, including HSBC Bank plc, Goldman Sachs International, Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, DBS Bank Ltd., Emirates NBD Capital Limited, Mashreqbank psc, Mizuho International plc, and Société Générale.
The stabilisation period is expected to begin on August 27, 2025, and end no later than October 3, 2025. During this period, the Stabilisation Managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail.
The over-allotment facility may reach up to 5% of the aggregate nominal amount, with stabilisation venues being over the counter.
The bonds have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States without registration or an exemption.
The offer price for the 10-year fixed-rate bonds is yet to be determined. The announcement notes that any stabilisation action is not guaranteed and may be terminated at any time.
The securities will be subject to applicable laws and regulations, including the EU Prospectus Regulation for offerings in European Economic Area Member States.
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