SAIB announces offering SAR denominated Tier 1 Sukuk

Reference is made to the announcement from Saudi Investment Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 14/08/1443H corresponding to 17/03/2022G, relating to its intention to issue a Saudi Riyal denominated Tier I Sukuk (“Sukuk”) under the Sukuk Programme by way of private placement in the Kingdom of Saudi Arabia.

The Bank would like to announce the commencement of the offer of the Sukuk.

The number and value of any Sukuk to be offered will be determined based on market conditions.

The bank added that the number and value of any Sukuk to be offered will be determined based on market conditions, and the offering will start at 2022-06-21 Corresponding to 1443-11-22 and end at 2022-06-28 Corresponding to 1443-11-29.

The targeted class of the issuance is institutional and qualified investors, in accordance with the Capital Market Authority Rules on the Offer of Securities and Continuing Obligations.

SAIB has mandated Alistithmar for Financial Securities and Brokerage Company as the Lead Manager and Bookrunner for the potential offer.

Minimum Subscription: SAR 1,000,000

Offer Price (Sukuk /Bonds): Subject to market conditions.

Par Value: SAR 1,000,000

Return (Sukuk /Bonds): Subject to market conditions.

Terms of Redemption: The Sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed by the Bank in certain cases as detailed in the offering circular in relation to the Sukuk.

Additional Information:

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations.