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Tue 16 Mar 2010 01:57 PM

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Saudi lender Samba talking to banks about bond issue

Discussions on with a number of institutions but no mandates have been awarded yet.

Saudi lender Samba talking to banks about bond issue
BOND ISSUE: Samba would be the latest Saudi institution to consider a bond issue. (Getty Images - for illustrative purposes only)

Saudi bank Samba Financial Group is talking to several banks about a dollar denominated international bond issue, IFR, a unit of Thomson Reuters reported.

Discussions have been taking place with a number of institutions, but no mandates have been awarded yet, IFR said, but Samba said there were no formal talks.

In an email to Reuters, Abdul Haleem Sheikh, financial officer, Samba, said: "We would like to deny that Samba is in any formal discussions of issuance of bond at this point in time."

A number of Saudi institutions are currently considering issuing bonds.

Banque Saudi Fransi (BSF) is meeting investors in Europe, Asia and the Middle East next week to test the waters for potential debt issuance, executives at the bank said on Wednesday.

A debt sale would be the second this year after Saudi property developer Dar al Arkan issued a smaller than expected five year Islamic bond, or sukuk, worth $450 million and priced at 10.75 percent. (Reuters)

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