IssuerAnnouncementDetailsV2Portlet
Saudi National Bank announces the commencement of the offer of its SAR-denominated Additional Tier 1 Sukuk
Element List | Explanation |
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Introduction | With reference to the announcement from Saudi National Bank (the “Bank”) published on the website of the Saudi Exchange on 28/04/1446H (corresponding to 31/10/2024G) regarding its intention to issue SAR-denominated Additional Tier 1 Sukuk (the “Sukuk”) by way of an offer to eligible investors in the Kingdom of Saudi Arabia, the Bank would like to announce the commencement of the offer of the Sukuk. |
Offer Type | Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals. |
Value of the offer | The amount and terms of offer of the Sukuk will be determined subject to the market conditions. |
Offering start Date | 2024-11-10 Corresponding to 1446-05-08 |
Offering end Date | 2024-11-21 Corresponding to 1446-05-19 |
The targeted class of the issuance | Institutional and Qualified clients as defined in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority pursuant to Article 8 (a) (1) of the Rules on the Offer of Securities and Continuing Obligations, issued by the Board of the Capital Market Authority. |
Name of Issuance Manager | The Bank has mandated SNB Capital Company as Sole Lead Manager, Bookrunner, and Lead Arranger. |
Minimum Subscription | SAR 1,000,000 |
Offer Price (Sukuk /Bonds) | Subject to market conditions. |
Par Value | SAR 1,000,000 per Sak. |
Return (Sukuk /Bonds) | Subject to market conditions. |
Maturity (Sukuk /Bonds) | Perpetual (subject to early redemption on a Call Date or as otherwise specified in the terms and conditions). |
Terms of Redemption | The Sukuk may be redeemed in certain cases as detailed in the term sheet 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 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 rules and regulations. The Offering End Date referred to above is the expected date of the end of the offering, subject to market conditions. |
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.