Logo of Saudi National Bank (SNB)
Saudi National Bank (SNB) launched today, Jan. 12, the sale of dollar-denominated Sukuk through a special purpose entity and is offered to eligible local and international investors.
The amount and terms of the offer will be determined as per the market conditions, the bank said in a bourse statement.
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Sukuk Issue Highlights |
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Issue type |
Dollar denominated senior unsecured Sukuk |
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Issue size |
The amount and terms of offer of the Sukuk will be determined according to the market conditions |
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Issue start date |
Jan. 12, 2022 |
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Issue end date |
Jan. 13, 2022 |
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Targted investors |
Qualified investors inside and outside Saudi Arabia |
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Minimum subscription limit |
$200,000 and in increments of $1,000 in excess thereof |
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Issue price |
To be determined according to the market conditions |
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Nominal value |
$200,000 |
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Sukuk yield |
To be determined according to the market conditions |
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Maturity period |
5 years |
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Terms of redemption |
The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the Sukuk |
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Lead managers of the issue |
Citigroup Global Markets Ltd., Emirates NBD, Goldman Sachs International, HSBC Bank plc, Mizuho International plc and SNB Capital as joint lead managers and bookrunners of the proposed offer |
The Sukuk will be listed on the London Stock Exchange's International Securities Market and will be subject to Regulation S under the US Securities Act of 1933, as amended, the statement added.
The issuing end date referred to above is the expected date of the end of the offering, subject to market conditions, the bank also said.
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