Riyadh – Mubasher: Bank Albilad intends to redeem its outstanding SAR-denominated Regulatory Tier 2 Capital Sukuk due in 2026 for a total value of SAR 1.06 billion.

The percentage of the redeemed Sukuk will account for 53.05% of the total, according to a bourse disclosure on Monday.

The 10-year Sukuk issue was first offered on 30 August 2016 through a private placement, with an aggregate face value of SAR 2 billion.

Albilad Capital will be responsible for the Sukuk deposit and contract details.