Arab National Bank calls $450 million of lower tier 2 floaters at par

By Susanna Moon

Chicago, Sept. 17 – Arab National Bank said it exercised the call option on its $450 million of outstanding $500 million lower tier 2 floating-rate notes due 2016.

The notes will be redeemed at par plus accrued interest to the redemption date of Oct. 31, according to a company notice.

The Riyadh, Saudi Arabia-based bank may make more bond purchases in the future.

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