Logo of Saudi National Bank
Saudi National Bank (SNB) completed the issuance of $850 million worth of US dollar-denominated senior unsecured sukuk.
The total number of sukuk reached 4,250 with an estimated return of 5.129 per year, the bank said in a statement to Tadawul.
The settlement of sukuk issuance will be on Feb. 27.
Below are the details of the Sukuk issuance:
|
Sukuk Issuance Details |
|
|
Issuance Type |
US dollar-denominated senior-unsecured sukuk |
|
Offer Value |
$850 million |
|
Start Date of Offering |
Feb. 20, 2024 |
|
End Date of Offering |
Feb. 21, 2024 |
|
Targeted Investors |
Qualified investors within and outside Saudi Arabia |
|
Lead Managers & Bookrunners |
Emirates NBD, Dubai Islamic Bank, Goldman Sachs International, HSBC Bank, Mizuho International, SNB Capital and Standard Chartered |
|
Minimum Subscription |
$200,000, with increments of $1,000 |
|
No. of Sukuk |
4,250 based on the minimum denomination and total issue size |
|
Par Value |
$200,000 |
|
Return |
5.129 annually |
|
Maturity Period |
5 years |
|
Redemption Conditions |
Sukuk may be redeemed before the scheduled maturity date under certain conditions as detailed in the offering circular. |
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