Saudi Awwal Bank (SAB) tower
Saudi Awwal Bank (SAB) completed the issuance of SAR 4 billion Sukuk with fixed and floating rate tranches, the lender said in a statement to Tadawul.
|
Sukuk Issuance Details |
|
|
Offer Type |
SAR-denominated additional Tier 1 Sukuk |
|
Offer Value |
Tranche 1: SAR 3.65 trln Tranche 2: SAR 350 mln |
|
Total Number of Sukuk |
Tranche 1: 3650 sukuk Tranche 2: 350 sukuk |
|
Start Date |
Nov. 27, 2024 |
|
End Date |
Dec. 5, 2024 |
|
Target Class |
Institutional and qualified clients as defined by the Rules on the Offer of Securities and Continuing Obligations issued by the Capital Market Authority (CMA). |
|
Lead Manager |
HSBC will act as the sole lead manager |
|
Minimum Subscription Limit |
SAR 1 mln |
|
Par Value |
SAR 1 mln |
|
Sukuk Return |
Tranche 1: 6.07% per annum
Tranche 2: 3-month SAIBOR + 1.34% annual variable rate, payable quarterly, with the calculation starting from the settlement date of Dec. 12, 2024.
|
|
Maturity |
Perpetual (without a record date) subject to early redemption on a call date or as otherwise specified in the base offering circular, the supplement 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, the bank may redeem them in certain cases as detailed in the base offering circular, the supplement base offering circular and the applicable final terms relating to the Sukuk. |
According to data available on Argaam, SAB commenced in November the issuance of SAR-denominated additional Tier 1 (AT-1) Sukuk with fixed and floating rates tranches.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}