The National Commercial Bank of Saudi Arabia intends to offer sukuk worth $750 million on the London Stock Exchange, and sell them under the regulation (Regulation S) of the US Securities Act, as amended.
The bank has concluded issuing 3.75 thousand sukuk with a nominal value of $200 thousand, and the maturity of the sukuk is 5 years, with an annual return of 2.342%, while early redemption of sukuk before their maturity is permissible in certain cases specified in the sukuk offering documents, according to a statement by the bank sent to the Market Authority. Finance “Tadawul”.
From the new issue, the bank targets qualified investors in Saudi Arabia and abroad, and the minimum subscription amount is 200 thousand dollars, which is the same nominal value of the instrument, provided that the offering price is determined according to market conditions.
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