Saudi Investment Bank Completes SAR 2 Billion Sukuk Issuance to Meet Financial Needs
The Saudi Investment Bank (SAIB) has completed a private placement of Saudi Riyals denominated Tier 1 Sukuk worth SAR 2 billion (USD 533 million), to meet its financial demands, as per a filing to the Saudi Stock Exchange (Tadawul). Why it Matters? The Sukuk has a perpetual maturity and a 6% return rate that will be paid from the date of issue until the 29th of June 2027, at which point it will reset. The offering included 2,000 total Sukuk at an SAR 1,000,000 par value. Details
The lead manager and bookrunner for the offering was Alistithmar Capital. From...
IM Insights
| June 30, 2022