Logo ofSaudi Awwal Bank (SAB)
Saudi Awwal Bank (SAB) ompleted the issuance of US dollar-denominated additional Tier 1 sukuk worth $650 million under its Additional Tier 1 Capital Note Programme, the bank said in a filing toTadawul. 
Details
Offer Type
US dollar-denominated additional Tier 1 sukuk under its Additional Tier 1 Capital Note Programme
Offer Value
$650 mln
Total No. of Sukuk
3,250 (based on minimum denomination and total issue size)
Nominal Value
$200,000
Return
6.50% annually
Maturity
Perpetual (no maturity date), subject to early redemption on the call date or as set out in the base prospectus, the supplementary prospectus, and the applicable final terms of the sukuk.
Terms of Redemption
The sukuk will be perpetual and therefore will not have a specified or final maturity date. However, they may be subject to early redemption by the bank under certain circumstances, as detailed in the base prospectus, the supplementary prospectus, and the applicable final terms of the sukuk.
For more news on listed companies
According to Argaam data, the bank began on May 14 issuing US dollar-denominated sustainable Additional Tier 1 capital sukuk through a private placement inside and outside the Kingdom of Saudi Arabia, under its USD 5 billion Additional Tier 1 capital sukuk issuance program.
Logo ofSaudi Awwal Bank (SAB)
Saudi Awwal Bank (SAB) ompleted the issuance of US dollar-denominated additional Tier 1 sukuk worth $650 million under its Additional Tier 1 Capital Note Programme, the bank said in a filing toTadawul.
Details
Offer Type
US dollar-denominated additional Tier 1 sukuk under its Additional Tier 1 Capital Note Programme
Offer Value
$650 mln
Total No. of Sukuk
3,250 (based on minimum denomination and total issue size)
Nominal Value
$200,000
Return
6.50% annually
Maturity
Perpetual (no maturity date), subject to early redemption on the call date or as set out in the base prospectus, the supplementary prospectus, and the applicable final terms of the sukuk.
Terms of Redemption
The sukuk will be perpetual and therefore will not have a specified or final maturity date. However, they may be subject to early redemption by the bank under certain circumstances, as detailed in the base prospectus, the supplementary prospectus, and the applicable final terms of the sukuk.
For more news on listed companies
According to Argaam data, the bank began on May 14 issuing US dollar-denominated sustainable Additional Tier 1 capital sukuk through a private placement inside and outside the Kingdom of Saudi Arabia, under its USD 5 billion Additional Tier 1 capital sukuk issuance program.
