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Logo of Saudi Awwal Bank (SAB)
Saudi Awwal Bank (SAB) commenced the issuance of US dollar-denominated additional Tier 1 (AT-1) sukuk, the bank said in a statement on Tadawul.
The offering runs for two days ending on May 15, 2025.
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Sukuk Issuance Details |
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Offer Type |
USD-denominated additional Tier 1 Sukuk |
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Offer Value |
To be determined as per market conditions. |
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Start Date |
May 14, 2025 |
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End Date |
May 15, 2025 |
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Target Class |
Qualified investors locally and internationally. |
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Lead Manager |
HSBC Bank, Merrill Lynch, Citigroup, J.P. Morgan Securities, Kamco Invest, Mizuho International, Standard Chartered Bank, and Warba Bank. |
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Minimum Subscription Limit |
$ 200,000 with increments in multiples of $ 1,000. |
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Offer Price |
Subject to market conditions |
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Par Value |
$ 200,000 |
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Sukuk Return |
Subject to market conditions |
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Maturity |
Perpetual (without a record date) |
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Terms of Redemption |
The bank may redeem them in certain cases as detailed in the base offering circular, the supplement base offering circular and the applicable final terms relating to the Sukuk. |
According to data available with Argaam, SAB announced on May 13 plans to issue USD-denominated, sustainable additional Tier 1 capital sukuk through a private placement, both locally and internationally, under its $5 billion AT-1 sukuk program.
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