IssuerAnnouncementDetailsV2Portlet
ActionsThe Saudi Investment Bank announces the completion of the offer of the second tranche of its SAR denominated Tier 1 Sukuk
Element List | Explanation |
---|---|
Offer Type | Tier I Sukuk denominated in Saudi Arabian Riyals. |
Introduction | Reference is made to the announcement from Saudi Investment Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 09/07/1444H corresponding to 31/01/2023G, relating to the commencement of the Bank’s offer of the second tranche of a Saudi Riyal denominated Tier 1 sukuk (the “Sukuk”) by way of a private placement in the Kingdom of Saudi Arabia, the Bank would like to announce that it has completed the offer of the second tranche of the Sukuk, and the settlement of the Sukuk issuance will be on 15/07/1444H corresponding to 06/02/2023G. |
Offer Type | Tier I Sukuk denominated in Saudi Arabian Riyals. |
Value of the offer | SAR 500,000,000 |
Total number of (Bonds/Sukuk) | 500 (based on the minimum denomination and total issue size) |
Par Value (Bonds/Sukuk) | SAR 1,000,000 |
Return (Bonds/Sukuk) | 6.25% per annum fixed rate payable semi-annually from (including) the issue date to (but excluding) 06/02/2028G (the “Reset Date”). The return rate shall thereafter reset on the Reset Date. |
Maturity (Bonds/Sukuk) | Perpetual, with some redemption rights subject to the terms and conditions of the Certificates. |
Terms of Redemption | The Sukuk may be redeemed by the Bank in certain cases as detailed in the Offering Circular in relation to the Sukuk. |
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.