SAIB commences offer of second tranche of SAR-denominated Tier 1 Sukuk

Sukuk Issuance Details

Issue type    

SAR-denominated Tier I Sukuk

Issue value

The value and number of sukuk to be determined based on market conditions

Offering start date

Jan. 31, 2023

Offering end date

Feb. 5, 2023

Target class

Institutional and qualified investors, in accordance with the Capital Market Authority Rules on the Offer of Securities and Continuing Obligations

Lead manager and bookrunner

Alistithmar for Financial Securities and Brokerage Co.

Minimum subscription limit

SAR 1 mln

Offer price (Sukuk/bonds)

Based on market conditions

Return (Sukuk/bonds)

Perpetual, with some redemption rights subject to the terms and conditions of the Sukuk

Terms of redemption

The sukuk are perpetual securities. Accordingly, they do not have a fixed or final redemption date. However, they may be redeemed by the bank in certain cases as detailed in the offering circular in relation to the Sukuk.