Bank Albilad announces the completion of issuing SAR-denominated Tier 2 Sukuk offered by way of private placement in the Kingdom of Saudi Arabia.
| Element List | Explanation |
|---|---|
| Offer Type | SAR-denominated Tier 2 Sukuk offered by way of private placement in the Kingdom of Saudi Arabia. |
| Introduction | With reference to the announcement from Bank Albilad (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 19/08/1442H (corresponding to 01/04/2021G), relating to the commencement of the offer of SAR-denominated Tier 2 Sukuk (the “Sukuk”), the Bank would like to announce that it has completed the offer of the Sukuk on 03/09/1442H (corresponding to 15/04/2021G). |
| Offer Type | SAR-denominated Tier 2 Sukuk offered by way of private placement in the Kingdom of Saudi Arabia. |
| Value of the offer | SAR 3,000,000,000 |
| Total number of (Bonds/Sukuk) | 3,000 |
| Par Value (Bonds/Sukuk) | SAR 1,000,000 |
| Return (Bonds/Sukuk) | 3-month SAIBOR + 165 bps |
| Maturity (Bonds/Sukuk) | 10 years callable at year 5, subject to the terms and conditions of the Sukuk. |
| Terms of Redemption | The Sukuk shall be redeemed on the maturity date.
The Sukuk may be redeemed prior to the maturity date in certain cases following a regulatory capital event, a tax event, an event of default, or at the option of the issuer, in each case pursuant to the terms and conditions of the Sukuk. |
| Additional Information | The Bank mandated Albilad Capital as the Sole Arranger and Dealer for the private placement of the Sukuk.
This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk.
The offer also included an option for the holders of the SAR 2,000,000,000 Sukuk (due 2026) that were previously issued by the Bank (the "Previous Sukuk") to exchange their investment in the Previous Sukuk with an investment in the Tier 2 Sukuk, subject to the terms and conditions of the Sukuk. |
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