Saudi National Bank Offers Additional SAR-denominated Tier 1 Sukuk 

Saudi National Bank Offers Additional SAR-denominated Tier 1 Sukuk 

https://islamicmarkets.com/articles/saudi-national-bank-offers-additional-sar-denominated-tier-1-sukuk
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Saudi National Bank (SNB) has commenced the issuance of its Additional Tier 1 Sukuk, denominated in Saudi riyals on the 28th of August 2022, as per as a stock exchange filing, in efforts to increase its capital base.

Why it Matters?

Earlier in August 2022, SNB had announced its intention to offer the Sukuk to qualified investors in Saudi Arabia. The size and offer price of the Sukuk are yet to be determined based on the conditions of the market and the offering is anticipated to end on the 31st of December 2022. A minimum of SAR 1 million (USD 266,000) will be subscribed to by investors, with an undetermined return rate.

Details

The mandated sole lead manager, bookrunner, and lead arranger for the Sukuk is SNB Capital...