SAIB plans to redeem SAR 1 bln outstanding Tier 1 Capital Sukuk on first call date

Saudi Investment Bank headquarters

Saudi Investment Bank (SAIB) announced plans to exercise its issuer call option (in full) in respect of its SAR 1 billion Additional Tier 1 Capital Sukuk issued on March 21, 2018, at face value on the first call date on March 21, according to a statement to Tadawul today, Jan. 23.

The sukuk was issued by way of a private placement on March 21, 2018, at an aggregate face value of SAR 1 billion, as per the applicable terms and conditions.

The statutory regulatory approval has been obtained to allow the issuer to exercise its call option on the first call date, it added.

According to the bank, the redemption value, together with any periodic distribution amounts, will be transferred to the sukuk holders' accounts on March 21. This is based on their respective holdings as of the opening of business on the transfer record date, which is seven business days prior to the due payment date.

Issue Summary
Issue type	Subordinated (SAR 1 bln Additional Tier 1 Capital Sukuk)
Value of the redeemed (sukuk\ bonds)	(SAR 1 bln)
Percentage of redeemed Sukuk out of total issued Sukuk	100%
Number of redeemed Sukuk	1000
Issuance date	March 21, 2018
Trading End Date	March 21, 2023
Sukuk par value at redemption date	SAR 1 mln per Sukuk
Total issuance value after redemption	0
Date of depositing the amounts in the Sukuk holders’ accounts	March 21, 2023
Name of entity responsible for deposit and contact details	Alistithmar for Financial Securities and Brokerage Company (Alistithmar Capital) Sukuk holders' agent and payment administrator (Tel. No. 0112547666)

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