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The Saudi National Bank announces intention to issue U.S. dollar denominated senior unsecured Sukuk.
| Element List | Explanation |
|---|---|
| Introduction | The Saudi National Bank (the “Bank”) announces its intention to issue U.S. Dollar denominated Sukuk under its updated international Sukuk programme (the “Programme”) on 01/06/1445H (corresponding to 14/12/2023G). The offer is expected to be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally (the “Proposed Offer”). The Bank has mandated Emirates NBD Bank PJSC, Dubai Islamic Bank PJSC, Goldman Sachs International, HSBC Bank plc, Mizuho International plc, SNB Capital Company and Standard Chartered Bank Joint Lead Managers & Bookrunners in relation to the Proposed Offer. |
| Offer Type | U.S. dollar denominated senior unsecured Sukuk. |
| Date of the board’s decision | 2023-03-05 Corresponding to 1444-08-13 |
| Value of the offer | The amount and terms of the offer of the Sukuk will be determined at a later stage based on market conditions. |
| The Purpose of the offer | General corporate purposes and to fulfill the Bank’s financial and strategic objectives. |
| Approvals | The offer of the Sukuk will be subject to the approval of the relevant regulatory authorities, as applicable, and will be made in compliance with relevant laws and regulations. |
| Additional Information | This announcement is 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 laws 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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