Saudi British Bank (SABB) completed the first issuance of its Tier 2 SAR-denominated sukuk worth SAR 5 billion through private placement, the bank said in a statement to Tadawul on Thursday.
The bank mandated HSBC Saudi Arabia as the sole book runner, lead arranger and lead manager for the private placement of the sukuk.
|
Sukuk Details |
|
|
Issuance type |
Tier II SAR denominated Sukuk offered by way of private placement |
|
Issuance amount |
SAR 5 bln |
|
Total number of sukuk |
5,000 Sak |
|
Par value |
SAR 1 mln |
|
Return |
6 months SAIBOR + Margin of 195 basis points |
|
Maturity |
July 22, 2030 and recoverable on July 22, 2025 |
|
Redemption |
On maturity and early redemption (including on the call date at the option of the bank), subject to the terms and conditions of the sukuk |
Comments
{{DisplayName}}
{{ElapsedTime}}