Saudi Awwal Bank (SAB), rated A1 by Moody’s (Stable) and A- by Fitch (Stable), has mandated banks for a Tier 2 green bond offering.
Goldman Sachs International and HSBC Bank plc are acting as joint global coordinators.
Joint lead managers and bookrunners include: Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, DBS Bank Ltd., Emirates NBD Capital Limited, Goldman Sachs International, HSBC Bank plc, Mashreq, Mizuho International plc, and Societe Generale.
HSBC Bank plc is also acting as sole green structuring bank.
A series of fixed income investor calls will start on Monday 25th August 2025.
The offering comprises US dollar denominated 10-year non-call 5-year Regulation S Resettable Fixed Rate Tier 2 Green Notes, with an expected issue rating of Baa2 by Moody’s and BBB by Fitch.
The notes are expected to be issued under SAB’s $5 billion Medium Term Note Programme, subject to market conditions.
(Writing by Seban Scaria; editing by Daniel Luiz)
(seban.scaira@lseg.com)
