Bank Albilad — Capital/Financing Update 2021

Mar 25, 2021

Bank Albilad (the “Bank”) announces its intention to issue a domestic SAR-denominated Tier 2 Sukuk

1140 · 25/03/2021 08:09:39 · Announcement #62404 · View on Saudi Exchange

Bank Albilad (the “Bank”) announces its intention to issue a domestic SAR-denominated Tier 2 Sukuk

Element List	Explanation
Introduction	Bank Albilad (the “Bank”) announces its intention to issue a domestic SAR-denominated Tier 2 Sukuk for up to SAR 3,000,000,000 by way of a private placement in the Kingdom of Saudi Arabia (the “Potential Offer”).

The Potential Offer may also include an option for the holders of the SAR 2,000,000,000 Sukuk (due 2026) that were previously issued by the Bank (the "Previous Sukuk") to exchange their investment in the Previous Sukuk with an investment in the Tier 2 Sukuk, subject to the terms and conditions of the Sukuk.

The Bank has mandated Albilad Capital as the Sole Arranger and Dealer for the Potential Offer. Offer Type Tier 2 Sukuk Date of the board’s decision 2020-12-14 Corresponding to 1442-04-29 Value of the offer The number and value of the issuance of Tier 2 Sukuk to be offered will be determined based on the market conditions. The Purpose of the offer The proceeds of the Potential Offer will be used by the Issuer to strengthen its capital base, as it is intended that the Tier 2 Sukuk will comprise tier 2 capital for Saudi Arabian regulatory purposes, and to grow its banking and finance activities. Approvals The Potential Offer will be subject to the approval of the competent regulatory authorities and will be made in compliance with applicable laws and regulations. Additional Information This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.

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.