August 26, 2013 / 10:53 AM / 4 years ago

Saudi lender SABB eyes capital-boosting Islamic bond issue - sources

DUBAI, Aug 26 (Reuters) - Saudi British Bank (SABB), an affiliate of HSBC Holdings, is aiming to sell a Tier 2 capital-boosting Islamic bond, or sukuk, before the end of the year, two banking sources aware of the matter said on Monday.

HSBC is advising SABB on the potential riyal-denominated transaction, the sources said, declining to be identified as the matter is not public.

SABB, the kingdom’s third-largest listed lender by market value and 40 percent owned by HSBC Holdings, declined to comment. (Reporting by David French; Editing by Dinesh Nair)

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