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One of Bank Albilad branches
Bank Albilad started today, May 15, a USD-denominated additional Tier 1 sukuk issuance.
The offering will end on May 16, according to a Tadawul statement.
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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 15, 2025 |
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End Date |
May 16, 2025 |
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Target Class |
Qualified investors locally and internationally |
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Lead Manager |
HSBC Bank, Albilad Capital, Goldman Sachs International, and Emirates NBD Bank, as joint lead managers |
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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 fixed or final redemption date) |
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Terms of Redemption |
The bank may redeem the sukuk in certain cases as detailed in the base-offering circular, the supplement base offering circular, and the applicable final terms relating to the sukuk. |
This announcement is not intended as an invitation or offer to purchase, acquire, or subscribe to any securities, the bank said, adding that it will announce any other relevant material developments in due course as required by the relevant rules and regulations.
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The sukuk will be offered, sold, and delivered only outside the US in offshore transactions to non-US persons in reliance on Regulation S under the US Securities Act of 1933, as amended.
The offering end date referred to above is the expected end date, subject to market conditions.
According to data available with Argaam, Bank Albilad announced plans, on May 13, to issue additional Tier 1 sukuk denominated in US dollars through a private placement in Saudi Arabia and internationally under its $2 billion Tier 1 sukuk program.
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