Saudi Arabia’s deal tables are busy again. SNB Capital, the investment banking and asset management subsidiary of Saudi National Bank, has stepped into the market with plans to raise up to $500 million through a three-year loan facility.
The structure is straightforward but flexible: a base size of $350 million, paired with a $150 million greenshoe option that could lift the total to the half-billion mark if demand proves strong. The pricing is pitched at 80 basis points over SOFR, positioning the deal as a competitively priced short-term funding exercise.
Japan’s Mizuho Bank has been tapped as mandated lead arranger and bookrunner, steering the syndication process as investor commitments are sought ahead of the April deadline.
This move arrives close on the heels of another sizeable funding exercise. Just last month, SNB expanded a five-year term loan to $1.5 billion, priced at an all-in cost of 104.7 basis points, including a 90bps margin over SOFR. The back-to-back transactions signal a deliberate strategy: lock in liquidity while credit conditions remain supportive and investor appetite for Gulf issuers holds firm.
For SNB Capital, the message is clear — access to international funding lines remains open, and the window is being used decisively.
