Bank Albilad announces the completion of the offer of its USD denominated Additional Tier 1 Sukuk
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by Bank Albilad (the "Bank") published on the website of the Saudi Exchange on 17/11/1446H (corresponding to 15/05/2025G), relating to the commencement of the Bank’s offer of its U.S.$ Dollar ("USD") denominated Additional Tier 1 Sukuk (the "Sukuk") by way of private placement in the Kingdom of Saudi Arabia and internationally pursuant to its USD 2,000,000,000 Additional Tier 1 Sukuk issuance programme, the Bank is pleased to announce the completion of the offer of the Sukuk.
The settlement of the Sukuk issuance will be on 24/11/1446H (corresponding to 22/05/ 2025G). |
| Offer Type | Private placement of USD denominated Additional Tier 1 Sukuk. |
| Value of the offer | USD 650,000,000 |
| Total number of (Bonds/Sukuk) | 3,250 Sak. |
| Par Value (Bonds/Sukuk) | USD 200,000. |
| Return (Bonds/Sukuk) | 6.500% per annum. |
| Maturity (Bonds/Sukuk) | Perpetual (subject to early redemption on a Call Date or as otherwise specified in the base offering circular and the applicable pricing supplement relating to the Sukuk). |
| Terms of Redemption | The Sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed by the Bank in certain cases as detailed in the base offering circular and the applicable pricing supplement relating to the Sukuk. |
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