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Bank Albilad — Capital/Financing Update 2021
Jul 26, 2021
53256_rns_2021-07-26_558f0129-49bf-473b-be51-bd3d57c09458.html
Capital/Financing Update
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Bank Albilad announces its intention to redeem its outstanding SAR Denominated Regulatory Tier 2 Capital Sukuk due 2026
1140 · 26/07/2021 08:00:40 · Announcement #64247 · View on Saudi Exchange
Bank Albilad announces its intention to redeem its outstanding SAR Denominated Regulatory Tier 2 Capital Sukuk due 2026
| Element List | Explanation |
|---|---|
| Introduction | Bank Albilad announces its intention to redeem its outstanding SAR Denominated Regulatory Tier 2 Capital Sukuk due 2026 in full at face value on 30th of August 2021. |
The Sukuk was issued by way of a private placement on the 30th of August 2016, with an aggregate face value of SAR 2 Billion with an original maturity of 10 years due on August 30, 2026 and, as per the terms and conditions can be redeemed at the option of the Issuer (Bank Albilad) on the Periodic Distribution Date that falls on the 5th anniversary of the Closing Date. Regulatory approval has already been obtained in this regard.
The redemption amount together with any periodic distribution amount (profit for the current periodic distribution period ending August 30th, 2021) will be transferred by Bank Albilad to the Sukukholders' accounts on August 30th, 2021 based on their respective holdings as of opening of business 19th August 2021 (start of the Sukuk trading suspension period). Offer Type Subordinated (SAR Denominated Regulatory Tier 2 Capital Sukuk) Value of the redeemed (sukuk\ bonds) SAR 1,061,000,000 Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) 53.05 % Number of redeemed (bonds/sukuk) 1,061 Sak Issuance Date 2016-08-30 Corresponding to 1437-11-27 Trading End Date 2026-08-30 Sukuk Par Value at Redemption Date SAR 1,000,000 per Sak Total issuance value after redemption 0 Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts 2021-08-30 Corresponding to 1443-01-22 Name of the Entity Responsible for the Deposit and Contact Details Albilad Capital (Sukukholders’ Agent & Payment Administration) Additional Information Further information in this regard may be obtained from Albilad Capital at [email protected]
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.