The Saudi National Bank announces the commencement of the offer of its U.S. dollar denominated Sukuk under its international Sukuk programme

The Saudi National Bank announces the commencement of the offer of its U.S. dollar denominated Sukuk under its international Sukuk programme

20 February 2024 08:16 AM

Element List

Explanation

Introduction

With reference to the announcement from The Saudi National Bank (the “Bank”) published on the website of the Saudi Exchange on 09/08/1445H (corresponding to 19/02/2024G) regarding its intention to issue U.S. dollar denominated Sukuk (the “Sukuk”) through a special purpose vehicle and offering it to eligible investors in the Kingdom of Saudi Arabia and internationally, the Bank would like to announce the commencement of the offer of the Sukuk.

Offer Type

U.S. dollar denominated senior unsecured Sukuk.

Value of the offer

The amount and terms of offer of the Sukuk will be determined subject to market conditions.

Offering start Date

2024-02-20 Corresponding to 1445-08-10

Offering end Date

2024-02-21 Corresponding to 1445-08-11

The targeted class of the issuance

Eligible investors in the Kingdom of Saudi Arabia and internationally.

Name of Issuance Manager

The Bank has mandated Emirates NBD Bank PJSC, Dubai Islamic Bank PJSC, Goldman Sachs International, HSBC Bank plc, Mizuho International plc, SNB Capital Company and Standard Chartered Company as Joint Lead Managers & Bookrunners.

Minimum Subscription

USD 200,000 and in increments of USD