SAB Announces Completion of Issuance of SAR-Denominated Sukuk with a Return of 6.30% Per Annum

Saudi Alawwal Bank (SAB) announced the completion of the offering and settlement of a SAR 2 billion Additional Tier 1 Capital Sukuk issuance denominated in Saudi riyals.

According to the bank’s statement on Tadawul, the total number of Sukuks reached 2,000, with a nominal value of SAR 1 million, with a return of 6.30% per annum.

The bank confirmed that the maturity of the Sukuk is perpetual (without a maturity date), subject to the possibility of early redemption on the redemption date or as specified in the basic prospectus and applicable final terms.

It clarified that the redemption eligibility conditions for the Sukuk will be perpetual and without a specific or final maturity date. The Sukuk may be redeemed early in certain circumstances, as detailed in the basic prospectus and applicable final terms.