SAB plans to issue SAR-denominated additional Tier 1 Sukuk

01/07/2025 Argaam
Logo ofSaudi Awwal Bank (SAB)

Logo of Saudi Awwal Bank (SAB)

Saudi Awwal Bank (SAB) plans to issue a SAR- denominated additional Tier 1 Sukuk through a private placement in Saudi Arabia, aligning with its additional Tier 1 Sukuk issuance program, according to a statement to Tadawul.

 

The bank mandated HSBC Saudi Arabia as the sole lead manager for the issuance, the statement added.

 

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The issuance value will be determined at a later stage based on market conditions at that time.

 

The sukuk issue will be directed to boost the bank’s capital base while enabling it to achieve long-term strategic objectives.

 

The proposed offer will be subject to the approval of the relevant regulatory authorities and will be in compliance with applicable laws and regulations, according to the statement.

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