Saudi Investment Bank Begins SAR 1 Million SAR-denominated Tier 1 Sukuk Offering 

The Saudi Investment Bank (SAIB) has begun the offering of its SAR-denominated Tier 1 Sukuk, with a SAR 1 million (USD 266,499) par value.

Why it Matters?

The offering is set to take place from the 21st to the 28th of June 2022. The number and value of the offered notes is yet to be determined by the bank pending the evaluation of market conditions.

Details

The lead manager and bookrunner for the offering is Alistithmar for Financial Securities and Brokerage Company (Alistithmar Capital). In March 2021, SAIB announced its plans to launch a Sukuk programme and make a private placement offer of up to SAR 2 billion (USD 533 million).

Photo by said alamri