AI Summary
Logo of Saudi Awwal Bank (SAB)
Saudi Awwal Bank (SAB) commenced the issuance of SAR-denominated additional Tier 1 (AT1) capital sukuk through a private placement in Saudi Arabia.
The offering period begins today, July 8, and ends on July 17, as follows:
|
Sukuk Issuance Details |
|
|
Offer Type |
Private placement of SAR-denominated additional AT1 capital sukuk |
|
Offer Value |
To be determined as per market conditions |
|
Start Date |
July 8, 2025 |
|
End Date |
July 17, 2025 |
|
Target Class |
Institutional and qualified clients as defined by the Capital Market Authority |
|
Lead Manager |
HSBC Saudi Arabia mandated as the sole lead manager |
|
Minimum Subscription |
SAR 1 mln |
|
Offer Price |
Subject to market conditions |
|
Par Value |
SAR 1 mln |
|
Sukuk Return |
Subject to market conditions |
|
Maturity |
Perpetual (subject to early redemption on a call date or as otherwise specified in the base offering circular and the applicable final terms relating to the sukuk) |
|
Terms of Redemption |
The sukuk are perpetual and have no fixed or final redemption date. However, they may be redeemed in certain cases as detailed in the base offering circular and the applicable final terms in relation to the sukuk. |
For more news on listed companies
The abovementioned closing date of the offering is tentative and may change based on market conditions, the bank added.
SAB said the announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk.
Relevant material developments will be announced in due course.
Be the first to comment
Comments Analysis: