DUBAI- National Commercial Bank, Saudi Arabia’s biggest lender, has tightened the price guidance for Tier 1 U.S. dollar-denominated sukuk by 37.5 basis points to around 3.75%, a document showed on Wednesday.
NCB is seeking to raise $1 billion through the perpetual Islamic bonds, two financial sources said. It has received over $4.8 billion in orders for the sukuk, according to the document from one of the banks arranging the deal, which is expected to close later on Wednesday.
(Reporting by Yousef Saba, editing by Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204))
