Riyadh - Mubasher: The Saudi Investment Bank announced the completion of the issuance of additional Tier 1 capital sukuk, denominated in US dollars, under its sukuk issuance program .

The bank explained, in a statement on " Tadawul", today, Thursday, that 3.75 thousand bonds were issued with a nominal value of $200,000, bringing the value of the offering to $750 million, equivalent to about 2.8 billion riyals .

He pointed out that the bonds are perpetual bonds (without a maturity date), redeemable after 5 years, with an annual return of 6.375 %.

He also pointed out that the bonds may be redeemed in certain cases according to the basic issuance prospectus for the bonds .

The bank noted that the bonds will be listed on the London Stock Exchange's international financial market .

The Notes will be offered, sold and delivered outside the United States only and in offshore transactions to non-U.S. persons pursuant to Regulation S of the U.S. Securities Act of 1933 .

The Saudi Investment Bank announced yesterday, Wednesday, the start of offering additional Tier 1 capital sukuk, sustainable and denominated in US dollars, under its program to issue additional Tier 1 capital sukuk .

On September 17, 2024, the Bank announced its intention to establish a Tier 1 Sukuk programme denominated in US dollars for a total amount not exceeding $1.5 billion .