SAB Announces Intention to Redeem SAR 5 Billion Tier II Sukuk

Saudi Awwal Bank has announced its intention to redeem its SAR 5 billion Tier II Sukuk, due in 2030, in full at par value (100% of the issue price) at the end of the fifth year, on July 22, 2025.

According to the bank, the Sukuk were issued on July 22, 2020, with a maturity date of July 22, 2030. Under the terms and conditions of the Sukuk, the bank has the right to redeem the Sukuk on July 22, 2025, and has obtained all necessary regulatory approvals.

According to the bank, the redemption amount, along with any accrued and unpaid periodic distributions by the bank on July 22, 2025, will be paid to the relevant Sukuk holders in accordance with the terms and conditions of the Sukuk.