Alawwal bank Announces the Redemption of its 2013 Sukuk
Element List | Explanation |
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Introduction | Alawwal bank is pleased to announce its intention to call (redeem) its 2013 sukuk, in full, bearing Tadawul symbol: 1047 – Alawwal bank Sukuk 4, at their face value (100% of issue price) at the end of year 5 (12th December 2018). The sukuk issued on 12th December 2013 for a total value of SAR 2.5 billion (2,500 sak / certificates each with a face value of SAR 1 million) had an original maturity of ten years (due 2023) and are callable in December 2018. Regulatory approval has already been obtained in this regard. The redemption amount along with the periodic distribution amount (profit for the current period ending 12th December 2018) will be transferred by Alawwal bank to the Sukuk holders accounts on 12th December 2018 based on their respective holdings as of 2nd December, 2018 (start of the sukuk trading suspension period). Further information in this regard may be obtained from Alawwal bank’s Shareholders’ Affairs Department at Tel: 011- 4010288 Ext. 1542 - 1361. |
Issuing type | Subordinated sukuk |
Amount of redeemed (bonds/sukuk) | SAR 2.5 billion |
Percentage of redeemed (bonds/sukuk) from total issued (bonds/sukuk) | 100 % |
Number of redeemed (bonds/sukuk) | 2,500 Sak |
Issue date | 2013-12-12 Corresponding to 1435-02-09 |
Expiry date | 2023-12-12 Corresponding to 1445-05-28 |
Face value of the sukuk at redemption | SAR 1 million per sak |
Total issuance value after redemption | 0 |
Date of depositing the amounts in the (bonds/sukuk) holders accounts | 12-12-2018 |
Name of the entity responsible for the deposit and communication methods. | Alawwal bank’s Shareholders’ Affairs Department at Tel: 011- 4010288 Ext. 1542 - 1361. |
Additional Information | Trading Suspension period to start on 2-12-2018 |
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