Bank Albilad announces its intention to issue USD denominated Additional Tier 1 Capital Sukuk under its Additional Tier 1 Capital Sukuk Programme
| Element List | Explanation |
|---|---|
| Introduction | Bank Albilad (the "Bank") announces its intention to issue U.S.$ Dollar (“USD”) denominated Additional Tier 1 Sukuk (the "Sukuk") by way of private placement in the Kingdom of Saudi Arabia and internationally (the "Proposed Offer") pursuant to its USD 2,000,000,000 Additional Tier 1 Capital Sukuk Programme.
The Bank has mandated HSBC Bank plc, Albilad Capital, Goldman Sachs International, and Emirates NBD Bank PJSC as Joint Lead Managers for the purpose of the Proposed Offer. |
| Offer Type | Private placement of USD denominated Additional Tier 1 Sukuk. |
| Date of the board’s decision | 2025-03-04 Corresponding to 1446-09-04 |
| Value of the offer | The amount and terms of offer of the Sukuk will be determined at a later stage based on market conditions at that time. |
| The Purpose of the offer | To complement and support the Bank’s capital base enabling the achievement of its long-term strategic objectives. |
| Approvals | The Proposed Offer will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations. |
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