SNB Announces Start of Offering Additional Tier 1 Sukuk Denominated in Saudi riyals

Saudi National Bank (SNB) announced on Sunday the commencement of the offer of the Sukuk on 11/08/2022 regarding its intention to issue SR-denominated Additional Tier 1 Sukuk (the “Sukuk”) by offering it to eligible investors in the Kingdom of Saudi Arabia.
The targeted class of the issuance is institutional and qualified clients as defined in the glossary of defined terms used in the regulations and rules of the Capital Market Authority pursuant to Article 8 (a) (1) of the rules on the offer of securities and continuing obligations, issued by the Board of the Capital Market Authority.
The Bank has mandated SNB Capital Company as Sole Lead Manager, Bookrunner, and Lead Arranger.
The amount and terms of offer of the Sukuk will be determined subject to the market conditions.
The offering start date is 28.08.2022 and the offering end date is 32.12.2022. The minimum subscription is SR 1,000,000.
The Sukuk may be redeemed in certain cases as detailed in the term sheet in relation to the Sukuk.
The Offering End Date referred to above is the expected date of the end of the offering, subject to market conditions.
This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.