The Saudi National Bank has announced the launch of a private placement of Additional Tier 1 (AT1) sukuk denominated in Saudi riyals within the Kingdom.
In a statement to the Tadawul stock exchange, the bank revealed that the final value and terms of the sukuk will be determined later based on market conditions.
The placement will commence on 16 January 2025 and conclude on 27 January 2025.
The sukuk will be targeted at institutional and qualified clients in accordance with the Capital Market Authority's securities offering and continuous obligations rules.
HSBC Saudi Arabia and Alawwal Capital have been appointed as placement managers.
Key details of the offering include a minimum subscription of SAR1mn, with pricing and yield to be determined based on market conditions.
The sukuk are perpetual, subject to early redemption at specified call dates as detailed in the offering documents.
The bank noted that the announced end date is expected and subject to market conditions. This announcement does not constitute an invitation or offer to purchase or subscribe to any securities.
The placement is part of the bank's SAR11.25bn Additional Tier 1 sukuk programme, continuing its strategic financial management approach.
Related Articles
Iraq confirms exemption from US oil export tariffs
Iraq's oil exports to the United States will not be affected by the newly announced 30% US tariff introduced by President Donald Trump to address the trade deficit with Iraq, the Ministry of Trade ... more
Iran leads world oil production growth with 13% increase
Iran topped global crude oil production growth in 2024, increasing output by 374,000 barrels per day (bpd) to achieve a 13% rise, according to OPEC's latest statistical bulletin. The Islamic ... more
Saudi SABIC considers IPO for subsidiary Gas company
Saudi Basic Industries Corporation (SABIC) is studying strategic options for its National Industrial Gases Company (Gas) subsidiary, including a potential initial public offering (IPO), the company ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
19 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago