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Logo of Arab National Bank (ANB)
Arab National Bank (ANB) announced the redemption of its $750 million fixed rate reset Tier 2 trust certificates due 2030 in full, at face value or 100% of issue price at the end of the fifth year—Oct. 28, 2025.
In a statement to Tadawul, the bank said that the sukuk was issued on Oct. 28, 2020, for an aggregate value of $750 million with an original maturity of 10 years due on Oct. 28, 2030. In accordance with the sukuk's terms and conditions, ANB may ask ANB Sukuk Limited as issuer to recall the sukuk on Oct. 28, 2025. Regulatory approvals have been obtained in this regard.
The redemption amount together with any periodic distribution accrued but unpaid will be paid by or on behalf of ANB Sukuk Limited on Oct. 28, 2025, to the relevant holders of the sukuk, in accordance with the terms and conditions, the bank added.
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Details of Redeemed Sukuk |
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Sukuk Type |
USD-denominated International Tier 2 Sukuk |
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Sukuk Value |
$750 mln |
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Redemption Ratio |
100 % |
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Total Number of Sukuk |
3,750 (based on minimum denomination and total size) |
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Issue Date |
Oct. 28, 2020 |
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Trading End Date |
Redemption date (Oct. 28, 2025) |
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Nominal Value per Sak at Redemption |
$200,000 |
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Date of Depositing the Amounts in the Sukuk Holders Accounts |
Oct. 28, 2025 |
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