AnnouncementDetails

Actions

Saudi National Bank Announces its Intention to issue SAR-denominated Additional Tier 1 Sukuk

Element ListExplanation
Introduction Saudi National Bank (the “Bank”) announces its intention to issue SAR-denominated Additional Tier 1 Sukuk (the “Sukuk”). The offer is expected to be by way of an offer to eligible investors in the Kingdom of Saudi Arabia (the “Proposed Offer”).

The Bank has mandated SNB Capital Company as Sole Bookrunner, Lead Arranger and Lead Manager for the Proposed Offer.

Offer Type Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals.
Date of the board’s decision 2022-03-15 Corresponding to 1443-08-12
Value of the offer The amount and terms of offer of the Sukuk will be determined subject to the market conditions.
The Purpose of the offer The purpose of the Potential Offer is to strengthen the Bank’s capital base in accordance with the Basel III framework.
Approvals Offer of the Sukuk will be subject to the approval of the relevant regulatory authorities, and will be made in compliance with applicable 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 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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
63.1 -0.4 (-0.63%)
Value Traded (SAR) Volume Traded
162,846,995.6 2,565,617

RelatedAnnouncementPortlet

Actions

Related Announcements