Saudi Awwal Bank announces intention to issue Private placement of SAR denominated Additional Tier 1 Sukuk.
|Introduction||The Saudi Awwal Bank (the "Bank") announces its intention to SAR denominated Tier 1 Sukuk (the "Sukuk") by way of private placement in the Kingdom of Saudi Arabia (the "Proposed Offer") pursuant to a SAR denominated Additional Tier 1 Sukuk issuance programme (the "Programme") |
The Bank has mandated HSBC Saudi Arabia as sole arranger and dealer for the purpose of the programme establishment, offering and issuance of the Sukuk.
|Offer Type||Private placement of SAR denominated Additional Tier 1 Sukuk.|
|Date of the board’s decision||2023-09-25 Corresponding to 1445-03-10|
|Value of the offer||The issuance amount will be determined at a later stage based on market conditions at that time.|
|The Purpose of the offer||To fulfil the Bank's financial and strategic needs.|
|Approvals||The Proposed Offer will be subject to the approval of the competent regulatory authorities and will be made in compliance with applicable laws and regulations.|
|Additional Information||This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations.|
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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