The Saudi Investment Bank (SAIB)headquarter
The Saudi Investment Bank (SAIB) announced today, May 3, completing the offer and settlement of SAR-denominated Additional Tier 1 (AT1) sukuk, wroth SAR 1.85 billion, according to a statement to Tadawul. 
Offering Details
Issue Type
SAR-denominated Tier 1 sukuk
Offering Value
SAR 1.85 bln
Total number of Bonds/Sukuk
1,850 sukuk
Par Value
SAR 1 mln per sakk
Return
6.50% fixed per annum, paid semi-annually. The return rate shall be amended on the reset date (as detailed in the offering prospectus).
Maturity
Perpetual (no fixed maturity date), with the option for early redemption on the first call date or as specified in the prospectus and the applicable final terms of the sukuk.
Terms of Redemption
The sukuk are perpetual and have no specified maturity. However, they may be redeemed early by the bank under certain conditions, as detailed in the base prospectus and the applicable final terms.
According to Argaam‘s data, the bank began last month issuing SAR-denominated Additional Tier 1 (AT1) sukuk, under its AT1 sukuk issuance program, conducted through a private placement to qualified investors within Saudi Arabia.
The Saudi Investment Bank (SAIB)headquarter
The Saudi Investment Bank (SAIB) announced today, May 3, completing the offer and settlement of SAR-denominated Additional Tier 1 (AT1) sukuk, wroth SAR 1.85 billion, according to a statement to Tadawul.
Offering Details
Issue Type
SAR-denominated Tier 1 sukuk
Offering Value
SAR 1.85 bln
Total number of Bonds/Sukuk
1,850 sukuk
Par Value
SAR 1 mln per sakk
Return
6.50% fixed per annum, paid semi-annually. The return rate shall be amended on the reset date (as detailed in the offering prospectus).
Maturity
Perpetual (no fixed maturity date), with the option for early redemption on the first call date or as specified in the prospectus and the applicable final terms of the sukuk.
Terms of Redemption
The sukuk are perpetual and have no specified maturity. However, they may be redeemed early by the bank under certain conditions, as detailed in the base prospectus and the applicable final terms.
According to Argaam‘s data, the bank began last month issuing SAR-denominated Additional Tier 1 (AT1) sukuk, under its AT1 sukuk issuance program, conducted through a private placement to qualified investors within Saudi Arabia.
