SNB plans to fully redeem SAR 2B Tier 1 sukuk

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Saudi National Bank (SNB) plans to redeem SAR 2 billion Tier 1 sukuk in full, at par value (100% of issue price) on July 15, the tenth anniversary of the issue, according to a Tadawul statement.

 

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SNB obtained the necessary regulatory approvals in this regard, it noted.

 

The redemption amount, together with any periodic distribution accrued but unpaid, will be paid by or on behalf of SNB on July 15, 2025, to the relevant sukukholders in accordance with the relevant terms and conditions.

 

Details of the Redeemed Sukuk

Item

Details

Type of Sukuk

Additional Tier 1 Capital Sukuk denominated in SAR

Total Value

SAR 2 bln

Redemption Rate

100%

Total Redeemed Sukuk

2,000 (based on the minimum value and total volume)

Issuance Date

July 15, 2015

Trading Suspension Date

July 15, 2025

Face Value at Redemption

SAR 1 million per sukuk

Redemption Payment Date

July 15, 2025

 

SNB Capital is the payment administrator and sukukholder agent.

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