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THE SAUDI INVESTMENT BANK ANNOUNCES ITS SUCCESSFUL COMPLETION OF SUBORDINATED TIER 1 SUKUK PRIVATE ISSUANCE

SAIB 1030 0.12% 16.26 0.02

The Saudi Investment Bank announces that on Wednesday March 21, 2018 it has successfully closed its transaction of SAR 1 Billion subordinated Tier I Sukuk, compliant with Islamic Sharia principles through a private placement offer in Saudi Arabia. The Sukuk include salient features which enhances the Bank's capital base and capital adequacy ratios. In addition, the Sukuk further diversifies the Bank's funding sources and extends its maturity profile. The Sukuk are perpetual securities with no fixed redemption date. However, the Bank has the right to call the Sukuk on predefined dates. All required approvals from the regulatory authorities have been obtained for the issuance. Alistithmar for Financial Securities and Brokerage Company acted as the Sole Lead Manager for this issuance

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