Saudi Investment Bank boosts sukuk programme to $1.3bln
The bank will also redeem 2018 sukuk in full
In a regulatory filing on Riyadh’s Tadawul exchange, the lender said it will issue the riyal-denominated sukuk via private placement. The exact value and terms of the issuance will be determined at a later stage subject to the market conditions, it added.
Saudi Investment Bank has mandated Alistithmar Capital as the lead manager and bookrunner for the potential offer.
In another statement, the bank said it would exercise its issuer call option and redeem its SAR1 billion additional Tier 1 capital sukuk in 2018 at face value on the first call date, that is March 21, 2023.
(Writing by Brinda Darasha; editing by Daniel Luiz)
