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NCB offers USD-denominated Additional Tier 1 Sukuk at SAR 1.25bn

NCB offers USD-denominated Additional Tier 1 Sukuk at SAR 1.25bn
A total of 6,250 Sukuk were offered at a par value of $200,000 each.
NCB
1180
-1.97% 54.80 -1.10

Riyadh – Mubasher: The National Commercial Bank (NCB) has completed the offering of US dollar-denominated Additional Tier 1 Sukuk.

The offering value amounts to SAR 1.25 billion. A total of 6,250 Sukuk were offered at a par value of $200,000 each, according to a stock exchange filing on Tuesday.

The Sukuk has a return rate of 3.50% per annum (and including) the issue date up to (but excluding) 26 January 2027. The rate of return will then be reset on 26 January 2027 and every six years thereafter.

On 20 January, NCB started issuing USD-denominated Additional Tier 1 Sukuk.