SNB Announces Offer Completion of Its Us Dollar Denominated Sukuk

Saudi National Bank (SNB) announced on Thursday the completion of the offer of the Sukuk and the settlement of the Sukuk issuance will be on 19/01/2022.

The bank said that the value of the offer is USD 750,000,000, the total number of (Bonds/Sukuk)           3,750 (based on the minimum denomination and total issue size).

The Par Value (Bonds/Sukuk) reached USD 200,000, Return (Bonds/Sukuk) reached     2.342% (per annum) , and Maturity (Bonds/Sukuk) will be for 5 years.

The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the Sukuk.

The Sukuk will be listed on the London Stock Exchange’s International Securities Market. The Sukuk may be sold in reliance on Regulations under the US Securities Act of 1933, as amended.

This comes with reference to the announcement from Saudi National Bank (the Bank) published on the website of the Saudi Exchange on 12/01/2022 regarding the commencement of the Bank’s offer of U.S. dollar denominated Sukuk (the Sukuk) by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally, the Bank would like to announce the completion of the offer of the Sukuk and the settlement of the Sukuk issuance will be on 19/01/2022.