{"id":95020,"date":"2025-03-06T00:00:00","date_gmt":"2025-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/06\/saudi-national-bank-to-list-usd-formosa-bonds-in-taipei-and-london\/"},"modified":"2025-03-06T00:00:00","modified_gmt":"2025-03-06T00:00:00","slug":"saudi-national-bank-to-list-usd-formosa-bonds-in-taipei-and-london","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/06\/saudi-national-bank-to-list-usd-formosa-bonds-in-taipei-and-london\/","title":{"rendered":"Saudi National Bank to list USD Formosa bonds in Taipei and London"},"content":{"rendered":"

The Saudi National Bank (SNB) is planning to issue five-year <\/strong>USD-denominated Formosa bonds<\/strong>, which will be listed on the Taipei and London stock exchanges, according to Al Arabiya<\/a>. The bonds, which carry a final price guidance of 120 bps above SOFR, will be issued by SNB Funding and guaranteed by SNB, according to Zawya<\/a>. The notes are rated A- by S&P and Fitch, with the settlement date set for 17 March. <\/p>\n

SOUND SMART- <\/strong>Formosa bonds are foreign currency bonds issued by international entities and listed on the Taipei Exchange in Taiwan. The debt instruments have gained popularity due to Taiwan's low-interest-rate environment.<\/p>\n

REMEMBER-<\/strong> SNB became the first Saudi bank to tap Taiwan\u2019s Formosa market in July<\/a>, issuing USD 500 mn in floating-rate notes under a USD 5 bn program, exceeding its USD 300 mn target. The bonds were priced at 120 basis points above the SOFR rate.<\/p>\n

ADVISORS- <\/strong>Credit Agricole CIB Taipei branch, HSBC Bank (Taiwan), and KGI Securities are joint managers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The bonds are guiding on a SOFR +120 basis points price<\/p>\n","protected":false},"author":1,"featured_media":95021,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[57,10,1115],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-ksa","tag-saudi-national-bank-snb","wpautop","entry"],"acf":{"mongo_id":"b63d2159-ed45-4c3c-81eb-984c500d2b54","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/180.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi National Bank to list USD Formosa bonds in Taipei and London","related_issue":[95013],"teaser":"The bonds are guiding on a SOFR +120 basis points price","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e340bc85-20fa-41a5-8338-54bac344bbf8.mp3"},"yoast_head":"\nSaudi National Bank to list USD Formosa bonds in Taipei and London - 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