ANB issues SAR-denominated additional Tier 1 capital sukuk

Logo of Arab National Bank (ANB)

Arab National Bank (ANB) commenced the issuance of SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia.

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In a statement on Tadawul, the lender said that the sukuk value and offer terms will be determined at a later date, subject to market conditions.

Sukuk Issuance Details
Offer Type	Private placement of SAR-denominated additional Tier 1 capital sukuk
Offer Value	To be determined as per market conditions
Start Date	Jan. 16, 2025
End Date	Jan. 27, 2025
Target Class	Institutional and qualified clients as defined by the Capital Market Authority
Lead Manager	HSBC Saudi Arabia and ANB Capital will be joint lead managers
Minimum Subscription	SAR 1 mln
Offer Price	Subject to market conditions
Par Value	SAR 1 mln
Sukuk Return	Subject to market conditions
Maturity	Perpetual (subject to early redemption on a call date or as otherwise specified in the base offering circular and the applicable final terms relating to the sukuk)
Terms of Redemption	The sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed in certain cases as detailed in the base offering circular and the applicable final terms in relation to the sukuk.

The stated end date of the offering is tentative and may change based on market conditions, the bank added.

ANB also noted that this announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk. Relevant material developments will be announced in due course.

According to data available with Argaam, ANB recently announced a plan to issue SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia under its SAR 11.25 billion Tier 1 sukuk program.

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