Logo of Saudi National Bank

Saudi National Bank (SNB) completed, today, Jan. 13, the issuance of $750 million worth of sukuk to qualified investors worth SAR 3 billion, through private placement.

 

The settlement of the sukuk issuance will be on Jan. 19, SNB said in a statement to Tadawul.

 

Sukuk Issue Highlights

Issue type

Dollar denominated senior unsecured sukuk

Issue size

$750 mln

Total number of sukuk

3,750 (based on the minimum denomination and total issue size)

Issue start date

Jan. 12, 2022

Issue end date

Jan. 13, 2022

Target investors

Qualified investors inside and outside Saudi Arabia

Nominal value

$200,000 per each

Nominal value

$200,000

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 (LSE) International Securities Market. They may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended, the statement added.

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