Logo ofThe Saudi Awwal Bank (SAB)
The Saudi Awwal Bank (SAB) intends to issue sustainable, USD-denominated additional Tier 1 capital sukuk through a private placement locally and outside the Kingdom of Saudi Arabia, under its $5 billion additional Tier 1 capital sukuk program, according to a statement to Tadawul. 
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The bank appointed HSBC Bank PLC, BofA Securities, Citigroup Global Markets Limited, J.P. Morgan Securities PLC, Kamco Investment Company, Mizuho International PLC, Standard Chartered Bank, and Warba Bank as joint lead managers for the potential offering.
The value as well as the terms of the sukuk offering will be determined at a later stage based on market conditions at the time. The issuance aims to strengthen the bank’s capital base to enable it achieve its long-term strategic objectives, in alignment with its sustainable finance framework.
The offering remains subject to regulatory approvals and will be conducted in accordance with applicable laws and regulations. The bank’s board approved the potential issuance on 24 October 2024.
Logo ofThe Saudi Awwal Bank (SAB)
The Saudi Awwal Bank (SAB) intends to issue sustainable, USD-denominated additional Tier 1 capital sukuk through a private placement locally and outside the Kingdom of Saudi Arabia, under its $5 billion additional Tier 1 capital sukuk program, according to a statement to Tadawul.
For more news on listed companies
The bank appointed HSBC Bank PLC, BofA Securities, Citigroup Global Markets Limited, J.P. Morgan Securities PLC, Kamco Investment Company, Mizuho International PLC, Standard Chartered Bank, and Warba Bank as joint lead managers for the potential offering.
The value as well as the terms of the sukuk offering will be determined at a later stage based on market conditions at the time. The issuance aims to strengthen the bank’s capital base to enable it achieve its long-term strategic objectives, in alignment with its sustainable finance framework.
The offering remains subject to regulatory approvals and will be conducted in accordance with applicable laws and regulations. The bank’s board approved the potential issuance on 24 October 2024.
