RIYADH, SAUDI ARABIA – Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.
The sukuk are offered to qualified investors inside and outside Saudi Arabia.
The amount and terms of offer of the sukuk will be determined subject to market conditions, the bank said in a statement to Tadawul.
This announcement does not constitute an invitation or an offer to buy, own, or subscribe to any securities.
It is subject to the sukuk terms and conditions, the bank said.
The sukuk will be listed on London Stock Exchange’s International Securities Market (ISM).
The sale of the sukuk is permissible only in accordance with Regulation S of the US Securities Act of 1933, as amended.
Earlier on February 1, the Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three months, six months and nine months totaling US$686 million (QR 2.5 billion).
