Bank Albilad plans to redeem SAR 1.06 bln outstanding Tier 2 capital sukuk

Bank Albilad building

Bank Albilad announced its intention to redeem the outstanding SAR-denominated regulatory Tier 2 capital sukuk, due 2026, in full at face value on Aug. 30, the lender said in a statement to Tadawul.

The value of the outstanding sukuk currently stands at SAR 1.06 billion.

The sukuk was issued by way of a private placement on Aug. 30, 2016, with an aggregate face value of SAR 2 billion and original maturity of 10 years, due on Aug. 30, 2026.

Regulatory approvals were obtained in this regard, the statement said.

The bank will transfer the redemption value, in addition to the periodic distribution amount (the profit for the period ending Aug. 30, 2021), to the accounts of the sukuk holders on Aug. 30, 2021, based on their registered ownership at the beginning of work on Aug. 19, 2021.

Sukuk Details
Offer Type	Subordinated (SAR-denominated regulatory Tier 2 capital sukuk)
Value	SAR 2 bln
Redeemed Amount	SAR 1.061 bln
Redeemed Percentage of Total Issue	53.05%
Total Number of Sukuk Redeemed	1,061 Sak
Issuance Date	Aug. 30, 2016
Trading End Date	Aug. 30, 2026
Par Value At Redemption	SAR 1 mln per Sak
Issuance After Redemption	0
Date of Depositing in Sukuk Holders Account	Aug. 30, 2021
Name of the Entity Responsible for the Deposit and Contact Details	Albilad Capital (Sukuk holders’ agent and payment administration)

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Most Read

Popular Links

Quick Links

About Us

Join Us

Follow Us