SNB issues SAR-denominated Additional Tier 1 sukuk

Saudi National Bank Tower

Saudi National Bank (SNB) announced commencing the issuance of SAR-denominated Additional Tier 1 (AT-1) sukuk, the lender said in a statement on Tadawul, today, Nov. 10.

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The amount and terms of sukuk issuance will be determined based on the market conditions, the statement added.

Sukuk Issuance Details
Offer Type	SAR-denominated additional Tier 1 sukuk
Offer Value	To be determined as per market conditions.
Start Date	Nov. 10, 2024
End Date	Nov. 21, 2024
Target Class	Institutional and qualified clients as defined by the Capital Market Authority’s (CMA) regulations
Lead Manager/Bookrunner	SNB Capital Co. will act as the sole bookrunner, lead arranger and lead manager
Minimum Subscription Limit	SAR 1 mln
Offer Price	Subject to market conditions
Par Value	SAR 1 mln
Sukuk Return	Subject to market conditions
Maturity	Perpetual (without a record date)
Terms of Redemption	The sukuk may be redeemed in certain cases as detailed in the term sheet in relation to the sukuk.

The offering end date referred to above is the expected date of the end of the offering, subject to market conditions.

This announcement was 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. The bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.

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