The Saudi Investment Bank announces its intention to redeem its outstanding SAR 500,000,000 Additional Tier 1 Capital Sukuk on the First Call Date
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Investment Bank (the “Issuer”) announces its intention to exercise its Issuer Call Option (in full) in respect of its SAR 500,000,000 Additional Tier 1 Capital Sukuk (the “Sukuk”) issued on 21-11-2016G corresponding to 21-02-1438H at face value on the First Call Date, being 21-11-2021G corresponding to 16-04-1443H.
The Sukuk was issued by way of a private placement on 21-11-2016G corresponding to 21-02-1438H, with an aggregate face value of SAR 500,000,000 and, as per the terms and conditions of the Sukuk, can be redeemed at the option of the Issuer (The Saudi Investment Bank) on the First Call Date. Regulatory approval has been obtained to allow the Issuer to exercise its call option on the First Call Date.
The redemption amount together with any periodic distribution amounts (profit for the current periodic distribution period ending 21-11-2021G corresponding to 16-04-1443H) will be transferred to the Sukukholders' accounts on 21-11-2021G corresponding to 16-04-1443H, based on their respective holdings as of opening of business on the Transfer Record Date, being seven Business Days prior to the due date for payment. |
| Offer Type | Subordinated (SAR 500,000,000 Additional Tier 1 Capital Sukuk) |
| Value of the redeemed (sukuk bonds) | SAR 500,000,000 |
| Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) | 100 % |
| Number of redeemed (bonds/sukuk) | 500 |
| Issuance Date | 2016-11-21 Corresponding to 1438-02-21 |
| Trading End Date | 2021-11-10 |
| Sukuk Par Value at Redemption Date | SAR 1,000,000 per Sakk |
| Total issuance value after redemption | 0 |
| Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts | 2021-11-21 Corresponding to 1443-04-16 |
| Name of the Entity Responsible for the Deposit and Contact Details | Alistithmar for Financial Securities and Brokerage Company (Alistithmar Capital)
(Sukukholders' Agent and Payment Administrator) |
| Additional Information | Further information may be obtained from the Sukukholders' Agent and Payment Administrator at telephone no. 011-2547666 |
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