ANB completes $750M AT1 sukuk issuance

09:12 AM (Mecca time) Argaam
ANB issues $750 mln AT1 sukuk

ANB issues $750 mln AT1 sukuk

Arab National Bank (ANB) completed the issuance of its USD-denominated sustainable additional Tier 1 (AT1) sukuk offering for $750 million.

 

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In a statement on Tadawul, the bank said the settlement of the notes is expected to take place on Sept. 9.

 

Issuance Details

Type

USD-denominated sustainable AT1 sukuk

Value

$750 mln

Number of Bonds

3,750 (based on minimum currency denomination and total issue volume)

Par Value

$200,000

Yield

6.4% per annum

Maturity

Sustainable, callable after 5 years

Redemption Terms

Notes may be redeemed prior to maturity under certain conditions, as detailed in the base prospectus

 

ANB launched the USD-denominated sustainable AT1 sukuk offer on Sept. 2, data compiled by Argaam showed.

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