AlAhli Bank intends to issue additional Tier 1 Sukuk denominated in Saudi Riyals

-0.45%

SNB

1180.SA

33.25

-0.45%

Riyadh - Mubasher: The National Commercial Bank (NCB) announced its intention to issue additional Tier 1 Sukuk denominated in Saudi riyals, by offering them to qualified investors within the Kingdom of Saudi Arabia.

The bank explained in a statement on "Tadawul" today, Thursday, that the value and terms of the sukuk offering will be determined based on market conditions.

She pointed out that the purpose of the potential offering is to enhance the bank's capital base in accordance with the Basel III framework.

He also pointed out that the offering of sukuk is subject to the approval of the competent regulatory authorities and will be in accordance with the relevant regulations and rules.

The Bank has appointed AlAhli Financial Company solely as the bookrunner, lead coordinator and lead manager in relation to the potential offering.

The bank confirmed that any other material developments will be announced in due course in accordance with relevant regulations and rules.

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