Alawwal Bank to redeem its 2021 Sukuk

29/10/2017 Argaam

 

Alawwal Bank plans to fully redeem its SAR 1.4 billion sukuk maturing 2021 on Nov. 26, the lender said in a statement to Tadawul on Sunday.

 

In 2012, the bank issued 1,400 sak with a face value of SAR 1 million each, a seven year maturity with redemption in Nov. 2017.

 

The bank has already obtained required regulatory approvals, the statement said.

 

The redemption amount along with the periodic distribution amount for the period ending Nov. 26 will be transferred to the Sukuk holders’ accounts on that same date. 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.