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Al Kathiri Holding Co. announces the completion of the offering of Series One of the Sukuk Issuance Programme through Sukuk Al Kathiri (SPE)
| Element List | Explanation |
|---|---|
| Offer Type | Series One of the Sukuk Issuance Programme denominated in Saudi Riyal offered by way of a public offering through Sukuk Al Kathiri (Special Purpose Entity) |
| Introduction | With reference to the announcement made by Al Kathiri Holding Company (the “Company”) published on the website of the Saudi Exchange Market (Tadawul) on 16/08/1444H (corresponding to 08/03/2023G), regarding the Offering Period for the Series One of the Sukuk Issuance Programme through Sukuk Al Kathiri and the announcement made by the Company published on the website of the Saudi Exchange Market (Tadawul) on 17/08/1444H (corresponding to 09/03/2023G), regarding he Coupon Return for the Series One of the Sukuk Issuance Programme through Sukuk Al Kathiri at 8.50% per annum fixed rate paid semi-annual (the “Sukuk”), the Company announces that it has completed the offer and subscription of the Sukuk. |
| Offer Type | Series One of the Sukuk Issuance Programme denominated in Saudi Riyal offered by way of a public offering through Sukuk Al Kathiri (Special Purpose Entity) |
| Value of the offer | SAR 100,000,000 |
| Total number of (Bonds/Sukuk) | 100,000 Sak. |
| Par Value (Bonds/Sukuk) | SAR 1,000 per Sak. |
| Return (Bonds/Sukuk) | 8.50% per annum fixed rate payable semi-annual, starting from the settlement date, which will occur on 08/09/1444H (Corresponding to 30/03/2023G) |
| Maturity (Bonds/Sukuk) | Five (5) Years, from the Settlement Date |
| Terms of Redemption | The Sukuk will be redeemed at the Maturity Date on 30/03/2028G |
| Additional Information | The public offering of the Series One Issuance included the issue of 100,000 Sukuk, with a par value of 1,000 Saudi Riyals for each Sak, with a fixed return of 8.50% per annum, as part of a Sukuk Issuance Programme through Sukuk Al Kathiri (Special Purpose Entity). The Offering was successfully completed and the Sukuk were fully subscribed by both Retail and Institutional subscribers. The percentage of the Sukuk dedicated to Retail subscribers was determined at 41.75% from the total Offered Sukuk and the percentage of Sukuk dedicated the Institutional subscribers was determined at 58.25% of the total Offered Sukuk. The total number of bids for the Sukuk amounted to 117,303 Sukuk, with a coverage ratio of 117.30%. * The results of the coverage for the retail subscribers: - Number of Sukuk dedicated to retail subscribers: 41,753 Sukuk, representing 41.75% of the total Offered Sukuk - Coverage ratio: (100.00%), where all retail subscriber included in the subscription application were allocated 100% of their orders. - * The results of the coverage for the institutional subscribers: - Number of Sukuk dedicated to Institutional investors: 58,247 Sukuk, representing 58.25% of the total Offered Sukuk - Coverage ratio: (129.70%), where the allocation for institutional subscribers was determined at the sole discretion of the Issuer (after obtaining the approval of the Sponsor) and in consultation with the Arranger. * Refund (if any): The process of refunding the excess subscription funds to the eligible subscribers will start on Sunday 11/09/1444H (corresponding to 02/04/2023G), and the excess subscription funds will be deposited in the accounts of the eligible investors in accordance with the procedures adopted by the relevant banks. * Listing: The sukuk will be listed and traded in the Saudi Exchange Market (Tadawul) after completing all regulatory requirements, and this will be announced in due course. * Key details on the Sukuk: - Type of Offering: Public Offering - Issuer: Sukuk Al Kathiri (Special Purpose Entity) - Sponsor: Al Kathiri Holding Company - Series Number: 1 (Series One) - Aggregate Number of Sukuk for the Series: 100,000 Sukuk - Par Value per Sak: 1,000 Saudi Riyal - Aggregate Nominal Value for the Series: 100,000,000 Saudi Riyals - Maturity: Five (5) years, Sukuk to be redeemed at Maturity Date on 30/03/2028G - Profit Rate: 8.50 per cent. Per annum payable semi-annually, commencing from Settlement Date - Settlement Date: 08/09/1444H (corresponding to 30/03/2023G) - Periodic Distribution Dates: 30 September, 30 March of each year - First Periodic Distribution Date: 30 September 2023 - Sukukholders’ Agent’s Delegate and Payment Administrator: AlKhair Capital Saudi Arabia * Additional Information: Investors can review the applicable final terms for this series of Sukuk by visiting the following website: (https://www.SukukAlKathiri.com) 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 issuer will announce any other relevant material developments 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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