{"id":97749,"date":"2025-06-11T00:00:00","date_gmt":"2025-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/snb-raises-sar-1-73-bn-in-at1-sukuk-sale\/"},"modified":"2025-06-11T00:00:00","modified_gmt":"2025-06-11T00:00:00","slug":"snb-raises-sar-1-73-bn-in-at1-sukuk-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/snb-raises-sar-1-73-bn-in-at1-sukuk-sale\/","title":{"rendered":"SNB raises SAR 1.73 bn in AT1 sukuk sale"},"content":{"rendered":"

<\/strong> SNB wraps local AT1 sukuk issuance<\/strong>:<\/strong> Tadawul-listed Saudi National Bank (SNB) closed a SAR-denominated additional tier one (AT1) perpetual sukuk offering, raising SAR 1.73 bn from local investors, according to a filing<\/a> to the exchange. The offering, which kicked off in early May<\/a>, was open to both institutional and qualified investors in the Kingdom.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

About the securities:<\/strong> The sukuk carry a 6% annual return until June 2030, after which the rate will reset every five years if not redeemed. The Islamic bonds can be redeemed early under certain conditions. Proceeds will help the lender shore up its financial buffers.<\/p>\n

ADVISORS- <\/strong>SNB Capital acted as the sole bookrunner, lead arranger, and lead manager on the transaction.<\/p>\n

A record year already:<\/strong> Some USD 5.6 bn in AT1 bonds have been issued so far this year to strengthen liquidity and finance Vision 2030 projects, setting an annual record already and making the Kingdom the world\u2019s second-largest issuer this year, according to Bloomberg<\/a> calculations.<\/p>\n

This is against the backdrop of subdued oil revenues and a rising loans-to-deposits ratio<\/strong>, which hit 107% in April, Bloomberg cited data from the Saudi Central bank. \u201cThere are no longer sufficient deposits in the system to cover the loans, and the banks need to find other sources of funding,\u201d Nick Smallwood, an emerging markets portfolio manager at M&G Investments, told the business information service.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sukuk carry a 6% annual return until June 2030<\/p>\n","protected":false},"author":1,"featured_media":97750,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[2441,57,10,1115],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-ksa","tag-saudi-national-bank-snb","wpautop","entry"],"acf":{"mongo_id":"5f38387a-e356-4ecd-8b7e-bffc4ecf1b90","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/180.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SNB raises SAR 1.73 bn in AT1 sukuk sale","related_issue":[97737],"teaser":"The sukuk carry a 6% annual return until June 2030","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.eb8c9767-5b15-4621-a7e8-d7dc35b35ff4.mp3"},"yoast_head":"\nSNB raises SAR 1.73 bn in AT1 sukuk sale - 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