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The Saudi British Bank announces the commencement of offering the first issuance of sukuk pursuant to its Local Sukuk programme

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Introduction With reference to the announcement made by the Saudi British Bank (the “Bank”) on the website of the Saudi Stock Exchange (Tadawul) on 14/11/1441H (corresponding to 05/07/2020G), relating to the intention of the Bank to establish a local Sukuk Programme (the “Local Programme”) and issuance of sukuk thereunder (the “Sukuk”), the Bank would like to announce the commencement of offering the first issuance of Sukuk pursuant to the Local Programme.
Issuance Type Tier II SAR denominated Sukuk offered by way of private placement in the Kingdom of Saudi Arabia.
Issuance Amount The amount of the first issuance of Sukuk pursuant to the Local Programme will be determined subject to market conditions.
Issuing Start Date 2020-07-06 Corresponding to 1441-11-15
Issuing End Date 2020-07-28 Corresponding to 1441-12-07
Issuance Target Group Sophisticated investors residents in The Kingdom of Saudi Arabia.
Underwriter HSBC Saudi Arabia
Minimum Subscription One million Saudi Riyals (SAR 1,000,000).
Listing Price (Sukuk /Bonds) One million Saudi Riyals (SAR 1,000,000).
Par Value One million Saudi Riyals (SAR 1,000,000).
Return (Sukuk /Bonds) 6 months SAIBOR + Margin (to be determined later)
Maturity (Sukuk /Bonds) 10 years callable at 5 years subject to market conditions.
Terms of Redemption Redemption on maturity and early redemption (including on the call date at the option of the Bank), subject to the terms and conditions of the Sukuk.
Additional Information It should be noted that the End of Offering Period may be earlier subject to market conditions.

The Capital Market Authority and the Saudi Stock 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.

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