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SABB to sell Islamic bond to boost capital

Saudi British Bank (SABB), an affiliate of HSBC Holdings and the kingdom's third-largest listed lender by market value, is aiming to sell a Tier 2 capital-boosting Islamic bond before the end of the year, Reuters has reported, citing two banking sources aware of the matter. HSBC is advising SABB on the potential riyal-denominated transaction, the sources said.