Logo of Saudi Awwal Bank
Saudi Awwal Bank (SAB) started today, Oct. 11, the issuance of tranche 1 of a fixed-rate, SAR-denominated Additional Tier 1 (AT1) sukuk and tranche 2 of a floating-rate sukuk.
The offer value pursuant to a SAR-denominated ATI sukuk issuance program will be determined subject to market conditions, according to a statement to Tadawul.
|
Sukuk Details |
|
|
Issuance type |
Tranche 1 of SAR-denominated AT1 sukuk |
|
Value |
Offer value and terms will be determined based on market conditions |
|
Start date |
Oct. 11, 2023 |
|
End date |
Oct. 24, 2023 |
|
Target investors |
Institutional and qualified investors as per the CMA’s Rules on the Offer of Securities and Continuing Obligations |
|
Offer manager |
HSBC Saudi Arabia was mandated as sole arranger and dealer |
|
Minimum subscription |
SAR 1 mln |
|
Offer price |
To be set based on market conditions |
|
Par value |
SAR 1 mln per certificate |
|
Return |
To be set based on market conditions |
|
Maturity |
Perpetual, with certain redemption rights as described in the base offering circular |
|
Redemption terms |
The sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed early in certain cases as detailed in the base offering circular. |
This announcement is not intended as an invitation or offer to purchase, acquire, or subscribe to any securities.
The bank will announce any other relevant material developments in due course as per the relevant rules and regulations, the statement noted.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}