Logo of Saudi National Bank (SNB)
Saudi National Bank (SNB) announced commencing the issuance of SAR-denominated Additional Tier 1 (AT-1) sukuk, the lender said in a bourse statement, today, Aug. 28.
It added that the amount and terms of sukuk issuance will be determined based on the market conditions.
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Sukuk Issuance Details |
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Offer Type |
SAR-denominated additional Tier 1 sukuk |
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Offer Value |
To be determined as per market conditions. |
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Start Date |
Aug. 28, 2022 |
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End Date |
Dec. 31, 2022 |
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Target Class |
Institutional and qualified clients as defined by the Capital Market Authority’s (CMA) regulations |
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Minimum Subscription Limit |
SAR 1 mln |
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Offer Price |
Subject to market conditions |
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Par Value |
SAR 1 mln |
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Sukuk Return |
Subject to market conditions |
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Maturity |
Perpetual (without a record date) |
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Terms of Redemption |
The sukuk may be redeemed in certain cases as detailed in the term sheet in relation to the sukuk. |
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Lead Manager/Bookrunner |
SNB Capital Co. will act as sole bookrunner, lead arranger and lead manager. |
The offering end date referred to above is the expected date of the end of the offering, subject to market conditions.
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. The bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.
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