Saib launches private placement of SAR AT1 sukuk

Saudi Investment Bank (Saib) kicked off a private placement of additional tier 1 (AT1) capital sukuk under its SAR 5 bn sukuk program, running until 7 May for eligible investors, it said in a Tadawul disclosure. Minimum subscription is SAR 1 mn, with price, return, and total value to be set by market conditions. The perpetual securities may be redeemed early under specified conditions.

ADVISORS- Alistithmarfor Financial Securities and Brokerage Company and Al Rajhi Capital are handling the placement as joint lead managers and bookrunners.

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