A number of other EMTNs are in the pipeline. Samba Financial Grouphas mandated Deutsche Bank and Citigroupto arrange a programme, while Riyad Bankhas appointed Bank of Americaand JP Morgan. Arab Banking Corporation and Bank of Bahrain & Kuwait are also planning issues (MEED 26:8:05).

Saudi British Bankwas the first local bank to issue an international bond. The bank’s $600 million, debut international bond, which is structured as a floating rate note with a five-year maturity, was the inaugural issue under the bank’s new EMTN programme.