Arab News, Sunday, Aug 28, 2022 | Safar 1, 1444
Saudi largest lender SNB announces start of SR-denominated sukuk offering
Saudi Arabia: Saudi National Bank
has announced the commencement of its additional sukuk offering on Aug. 28, in a
bid to strengthen the bank’s capital base.
Denominated in Saudi riyals, the size and offer
price of the issuance are still to be determined and subject to market
conditions, SNB said in a stock exchange filing.
The expected end date of the offering is Dec. 31,
2022. Investors shall subscribe to a minimum of SR1 million ($266,000), with a
return rate yet to be determined.
SNB Capital will act as the sole book-runner, lead
arranger, and lead manager of the offer.