Riyadh –  Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk for up to SAR 3 billion by the way of private placement in Saudi Arabia.

For the holders of the previously issued SAR 2 billion Sukuk due in 2026, the offer includes an option that enables them to exchange their investment in the previous Sukuk with an investment in the Tier 2 Sukuk, according to a bourse filing on Thursday.

Meanwhile, the bank will determine the amount of the issuance and the number of Sukuk to be offered based on the market conditions.

The bank mandated Albilad Capital as a sole arranger and dealer of the issuance.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.