Bank Albilad plans to redeem sukuk at over $267mln

The percentage of the redeemed sukuk will account for 53.05% of the total

  
Islamic finance background with calculator and rosary on the table. Image used for illustrative purpose.

Islamic finance background with calculator and rosary on the table. Image used for illustrative purpose.

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Riyadh – Bank Albilad intends to redeem its outstanding SAR-denominated Regulatory Tier 2 Capital Sukuk due in 2026 for a total value of SAR 1.06 billion.

The percentage of the redeemed Sukuk will account for 53.05% of the total, according to a bourse disclosure on Monday.

The 10-year Sukuk issue was first offered on 30 August 2016 through a private placement, with an aggregate face value of SAR 2 billion.

Albilad Capital will be responsible for the Sukuk deposit and contract details.

Source: Mubasher

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