Riyadh - Mubasher: Saudi Awwal Bank (SAB) intends to issue USD-denominated Tier 2 capital green notes under its medium-term note program, which received provisional ratings from Moody's.

The proposed offer will target eligible investors in Saudi Arabia and globally, according to a bourse disclosure.

The board approved the offering on 14 August, with the size and terms of the issuance will be determined later depending on market conditions.

Proceeds will be used to strengthen SAB’s Tier 2 capital, support general corporate purposes, and advance its financial and strategic objectives in line with the bank’s Sustainable Debt Framework.

SAB has mandated HSBC, Goldman Sachs, ADCB, Citigroup, DBS, Emirates NBD, Mashreq Bank, Mizuho, and Société Générale as joint lead managers for the offering.

The transaction is still subject to regulatory approval and will be carried out in accordance with applicable laws and regulations.

As of 30 June 2025, SAB logged 4.94% year-on-year (YoY) higher net profits valued at SAR 4.26 billion, compared with SAR 4.06 billion.