Saudi British Bank (SABB) completed the first issuance of its Tier 2 SAR-denominated sukuk worth SAR 5 billion through private placement, the bank said in a statement to Tadawul on Thursday.
The bank mandated HSBC Saudi Arabia as the sole book runner, lead arranger and lead manager for the private placement of the sukuk.
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Sukuk Details |
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Issuance type |
Tier II SAR denominated Sukuk offered by way of private placement |
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Issuance amount |
SAR 5 bln |
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Total number of sukuk |
5,000 Sak |
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Par value |
SAR 1 mln |
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Return |
6 months SAIBOR + Margin of 195 basis points |
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Maturity |
July 22, 2030 and recoverable on July 22, 2025 |
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Redemption |
On maturity and early redemption (including on the call date at the option of the bank), subject to the terms and conditions of the sukuk |
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