Bank Albilad building
Bank Albilad announced its intention to redeem the outstanding SAR-denominated regulatory Tier 2 capital sukuk, due 2026, in full at face value on Aug. 30, the lender said in a statement to Tadawul.
The value of the outstanding sukuk currently stands at SAR 1.06 billion.
The sukuk was issued by way of a private placement on Aug. 30, 2016, with an aggregate face value of SAR 2 billion and original maturity of 10 years, due on Aug. 30, 2026.
Regulatory approvals were obtained in this regard, the statement said.
The bank will transfer the redemption value, in addition to the periodic distribution amount (the profit for the period ending Aug. 30, 2021), to the accounts of the sukuk holders on Aug. 30, 2021, based on their registered ownership at the beginning of work on Aug. 19, 2021.
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Sukuk Details |
|
|
Offer Type |
Subordinated (SAR-denominated regulatory Tier 2 capital sukuk) |
|
Value |
SAR 2 bln |
|
Redeemed Amount |
SAR 1.061 bln |
|
Redeemed Percentage of Total Issue |
53.05% |
|
Total Number of Sukuk Redeemed |
1,061 Sak |
|
Issuance Date |
Aug. 30, 2016 |
|
Trading End Date |
Aug. 30, 2026 |
|
Par Value At Redemption |
SAR 1 mln per Sak |
|
Issuance After Redemption |
0 |
|
Date of Depositing in Sukuk Holders Account |
Aug. 30, 2021 |
|
Name of the Entity Responsible for the Deposit and Contact Details |
Albilad Capital (Sukuk holders’ agent and payment administration) |
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