Arab National Bank (ANB) completed the issuance of its USD-denominated sustainable additional Tier 1 (AT1) sukuk offering for $750 million.
In a statement on Tadawul, the bank said the settlement of the notes is expected to take place on Sept. 9.
Issuance Details
| Type | USD-denominated sustainable AT1 sukuk |
| Value | $750 mln |
| Number of Bonds | 3,750 (based on minimum currency denomination and total issue volume) |
| Par Value | $200,000 |
| Yield | 6.4% per annum |
| Maturity | Sustainable, callable after 5 years |
| Redemption Terms | Notes may be redeemed prior to maturity under certain conditions, as detailed in the base prospectus |
ANB launched the USD-denominated sustainable AT1 sukuk offer on Sept. 2, data compiled by Argaam showed.
