SNB to Redeem SAR 4.2 Billion Tier 1 Sukuk on Maturity

Saudi National Bank (SNB) announced on Wednesday its intention to fully redeem its SAR 4.2 billion Tier 1 Sukuk at face value (100% of the issue price) on June 30, 2025, marking the fifth anniversary of their issuance.

The Sukuk, originally issued on June 30, 2020, consist of 4,200 Sukuk, and the bank confirmed that redemption will be made in accordance with the Sukuk’s terms and conditions. The bank further noted that any unpaid periodic distributions due to holders will also be paid on June 30, 2025, either by or on behalf of SNB.