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Bank Albilad commences SAR-denominated Tier 2 Sukuk offer

Bank Albilad commences SAR-denominated Tier 2 Sukuk offer
Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk
ALBILAD
1140
-0.28% 35.50 -0.10

Riyadh – Mubasher: Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk for up to SAR 3 billion by the way of private placement in Saudi Arabia.

For the holders of the previously issued SAR 2 billion Sukuk due in 2026, the offer includes an option that enables them to exchange their investment in the previous Sukuk with an investment in the Tier 2 Sukuk, according to a bourse filing on Thursday.

Meanwhile, the bank will determine the amount of the issuance and the number of Sukuk to be offered based on the market conditions.

The bank mandated Albilad Capital as a sole arranger and dealer of the issuance.