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Saudi National Bank announces its intention to redeem its SAR 2,000,000,000 tier 1 capital sukuk
| Element List | Explanation |
|---|---|
| Introduction | Saudi National Bank is pleased to announce its intention to call (redeem) the SAR 2,000,000,000 tier 1 capital sukuk (the “Sukuk”), in full, at face value (100% of issue price) on 15 July 2025, being the tenth anniversary of the issue date. The Sukuk was issued on 15 July 2015 for an aggregate value of SAR 2,000,000,000 and in accordance with the Sukuk's terms and conditions, Saudi National Bank as issuer intends to call the Sukuk on 15 July 2025. Regulatory approval has already been obtained. The redemption amount together with any periodic distribution accrued but unpaid will be paid by or on behalf of, Saudi National Bank on 15 July 2025 to the relevant holders of the Sukuk in accordance with the terms and conditions of the Sukuk. |
| Offer Type | Tier 1 Capital Sukuk denominated in Saudi Arabian Riyals. |
| Value of the redeemed (sukuk\ bonds) | SAR 2,000,000,000 |
| Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) | 100 % |
| Number of redeemed (bonds/sukuk) | 2,000 Sakk (based on the minimum denomination and total size) |
| Issuance Date | 2015-07-15 Corresponding to 1436-09-28 |
| Trading End Date | Date of redemption of the Sukuk: 20/01/1447H (corresponding to 15/07/2025G) |
| Sukuk Par Value at Redemption Date | SAR 1,000,000 |
| Total issuance value after redemption | 0 |
| Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts | 2025-07-15 Corresponding to 1447-01-20 |
| Name of the Entity Responsible for the Deposit and Contact Details | SNB Capital Company in its capacities as Payment Administrator and Sukukholders' Agent. Further information in this regard may be obtained from the Payment Administrator or the Sukukholders’ Agent at SNBC.DCM@alahlicapital.com |
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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