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National Commercial Bank announces its intention to issue Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals.

Element ListExplanation
Introduction The National Commercial Bank (“Bank”) announces its intention to issue SAR denominated Additional Tier 1 Sukuk.

The Bank has mandated NCB Capital as Sole Bookrunner, Lead Arranger and Lead Manager for the potential private placement offer.

Issuance Type Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals.
Board Resolution Date 2020-01-24 Corresponding to 1441-05-29
Issuance Amount The number and value of any Sukuk to be offered will be determined based on market conditions.
Purpose of Issuance The purpose of the potential offer is to strengthen the Bank’s capital base in accordance with the Basel III framework].
Approvals The potential offer will be made in accordance with the applicable laws and regulations.
Additional Information This announcement is not intended as an invitation of 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 to its shareholder in due course.

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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