Saudi Awwal Bank (SAB) headquarters
Saudi Awwal Bank (SAB) plans to fully redeem its SAR 5 billion Tier 2 sukuk at face value on July 22, marking the end of the fifth year since issuance. 
In a statement to Tadawul, SAB said the sukuk were issued on July 22, 2020, and are due to mature in 2030. Under the sukuk terms, SAB has the option to call the instruments in 2025 and has secured the necessary regulatory approvals.
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Details of the Redeemed Sukuk
Type of Sukuk
A private placement of Tier 2 sukuk denominated in SAR
Total Value
SAR 5 bln
Redemption Rate
100%
Total Redeemed Sukuk
5,000 sukuk
Issuance Date
July 22, 2020
Trading Suspension Date
July 22, 2025
Face Value at Redemption
SAR 1 mln
Redemption Payment Date
July 22, 2025
The bank will pay the principal amount along with any accrued but unpaid profit distributions to sukuk holders in line with the issuance terms.
Saudi Awwal Bank (SAB) headquarters
Saudi Awwal Bank (SAB) plans to fully redeem its SAR 5 billion Tier 2 sukuk at face value on July 22, marking the end of the fifth year since issuance.
In a statement to Tadawul, SAB said the sukuk were issued on July 22, 2020, and are due to mature in 2030. Under the sukuk terms, SAB has the option to call the instruments in 2025 and has secured the necessary regulatory approvals.
For more news on listed companies
Details of the Redeemed Sukuk
Type of Sukuk
A private placement of Tier 2 sukuk denominated in SAR
Total Value
SAR 5 bln
Redemption Rate
100%
Total Redeemed Sukuk
5,000 sukuk
Issuance Date
July 22, 2020
Trading Suspension Date
July 22, 2025
Face Value at Redemption
SAR 1 mln
Redemption Payment Date
July 22, 2025
The bank will pay the principal amount along with any accrued but unpaid profit distributions to sukuk holders in line with the issuance terms.
