Al Kathiri starts sukuk issuance today

Logo of Al Kathiri Holding Co.

Alkhair Capital, the financial advisor and sole lead manager on Al Kathiri Holding Co.’s Sukuk Issuance Programme, announced that the offering period for the first series of SAR-denominated sukuk started today, March 12 and will run until March 23, 2023, according to a statement to Tadawul.

Details of Sukuk
Offering Type	Public offering
Issuer	Sukuk Al Kathiri (Special Purpose Entity (SPE))
Sponsor	Al Kathiri Holding Co.
Rating of Sponsor	“BBB-” rating with stable outlook from Simah Rating (Tassnief)
Status of Sukuk	Senior/unsubordinated, unsecured
Number of Sukuk Offered	100,000
Size of Issue	SAR 100 mln
Offer Price	SAR 1,000/sukuk
Return	8.50% per annum, fixed rate paid semi-annually
Maturity	Five years from settlement date
Minimum Subscription	Five sukuk, with par value of SAR 5,000
Offering Start Date	March 12, 2023
Offering End Date	March 23, 2023
Lead Manager	Alkhair Capital
Receiving Entities	Riyad Bank, Arab National Bank, Dinar Investment

Institutional investors seeking to purchase sukuk will be required to submit a duly completed form to Alkhair Capital, the company said.

It added that retail investors will be required to submit a duly completed form to the receiving entities through the available channels, including phone banking or relevant ATM machines.

The sukuk purchase is subject to investors satisfying the terms and conditions set out in the investor application form and the base prospectus dated Sept. 28, 2022.

Issue Prospectus

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