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Logo of Arab National Bank (ANB)
Arab National Bank (ANB) completed the issuance of SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia, under its SAR 11.25 billion additional Tier 1 capital sukuk program, at a value of SAR 3.35 billion.
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In a statement on Tadawul, the lender said that the settlement of the sukuk issuance will be on Feb. 3, 2025.
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Sukuk Issuance Details |
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Offer Type |
Private placement of SAR-denominated additional Tier 1 capital sukuk |
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Offer Value |
SAR 3.35 bln |
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Total Number of Sukuk |
3,350 |
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Par Value |
SAR 1 mln |
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Sukuk Return |
6.20% annually |
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Maturity |
Perpetual (subject to early redemption on a call date or as otherwise specified in the base offering circular and the applicable final terms relating to the sukuk) |
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Terms of Redemption |
The sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed in certain cases as detailed in the base offering circular and the applicable final terms in relation to the sukuk. |
According to data available with Argaam, ANB announced in January a plan to issue SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia under its SAR 11.25 billion Tier 1 sukuk program.
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