Saudi British Bank (SABB) priced a $600 million five-year bond on Tuesday, with a coupon of 3 percent, according to sole lead arranger HSBC .

The deal priced at 170 basis points over midswaps, marginally tighter than guidance.

SABB has a five-year 325 million euro ($454 million) bond maturing in April. HSBC was the sole bookrunner on that offering.

(Reporting by Rachna Uppal; Editing by Amran Abocar)

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The Saudi British Bank- SABB has successfully concluded the issuance of an international US Dollar 600 million 5 years Eurobond. The notes are senior bonds that pay a 3% annual fixed coupon rate on a semi annual basis. This reflects a spread of 170 bps over the 5 year US Dollar Mid-Swap rate.

The bonds issued under the USD 1.6bn EMTN programme, gained a great success as it was oversubscribed. The bonds rated as A by Fitch and S&P were listed for trading in London Stock Exchange.

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