Logo of Saudi National Bank (SNB)

Saudi National Bank (SNB) launched today, Jan. 12, the sale of dollar-denominated Sukuk through a special purpose entity and is offered to eligible local and international investors.

 

The amount and terms of the offer will be determined as per the market conditions, the bank said in a bourse statement.

 

Sukuk Issue Highlights

Issue type

Dollar denominated senior unsecured Sukuk

Issue size

The amount and terms of offer of the Sukuk will be determined according to the market conditions

Issue start date

Jan. 12, 2022

Issue end date

Jan. 13, 2022

Targted investors

Qualified investors inside and outside Saudi Arabia

Minimum subscription limit

$200,000 and in increments of $1,000 in excess thereof

Issue price

To be determined according to the market conditions

Nominal value

$200,000

Sukuk yield

To be determined according to the market conditions

Maturity period

5 years

Terms of redemption

The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the Sukuk

Lead managers of the issue

Citigroup Global Markets Ltd., Emirates NBD, Goldman Sachs International, HSBC Bank plc, Mizuho International plc and SNB Capital as joint lead managers and bookrunners of the proposed offer
 

The Sukuk will be listed on the London Stock Exchange's International Securities Market and will be subject to Regulation S under the US Securities Act of 1933, as amended, the statement added.

 

The issuing end date referred to above is the expected date of the end of the offering, subject to market conditions, the bank also said.

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