SNB Announces Intention to Redeem Tier 1 Sukuk worth SAR 2 Bln

The Saudi National Bank (SNB) announced on Wednesday its intention to redeem its Tier 1 sukuk worth SAR 2 billion in full, at their nominal value (100% of the issue price), on July 15, 2025, the tenth anniversary of the sukuk. This will be in accordance with the sukuk’s terms and conditions. Regulatory approval has been obtained in this regard.

The Bank stated that the redemption amount and any unpaid periodic distribution due to the relevant sukuk holders will be paid by or on behalf of the bank on July 15, 2025, in accordance with the sukuk’s terms and conditions.

The Bank clarified in a statement to Tadawul that the nominal value of the sukuk is SAR 1 million, and the total number of sukuk is 1,000, based on the minimum value and total size.