Riyadh – Mubasher: The National Commercial Bank (NCB) announced on Thursday the commencement of its perpetual private placement offer of additional Tier 1 Sukuk, subject to market conditions.
The issuance target group of the SAR-denominated Sukuk are sophisticated investors as defined in the rules on the offer of securities and continuing obligations, according to a statement to the Saudi Stock Exchange (Tadawul).
The bank has set the minimum subscription at SAR 10 million, with a par value of SAR 1 million.
Furthermore, the Bank has mandated NCB Capital as the sole bookrunner, lead arranger, and lead manager for the offering.
The offering was originally announced at the beginning of June.