The National Bank of Saudi Arabia said in a statement to the stock exchange, today, Wednesday, that it will start issuing unsecured priority sukuks denominated in dollars.

The bank clarified in the statement that the final value and terms of the sukuk offering will be determined based on market conditions.

He added that the offering ends tomorrow, Thursday, January 13, 2022, and the target group for the issuance are qualified investors in Saudi Arabia and abroad.

The minimum subscription is $200,000 in increments of $1,000, and the offering price of the instrument will be determined according to market conditions.

The maturity of the sukuk is 5 years, and early redemption of sukuks before their maturity is permissible in certain cases specified in the sukuk offering documents.

The Sukuk will be listed on the International Financial Market of the London Stock Exchange and may be sold under Regulation S of the US Securities Act as amended.

The Bank has appointed Citi Global Markets Limited, Emirates NBD, Goldman Sachs International, HSBC plc and Mizuho Inc. International Plc, and NCB Capital as Bookrunners and Bookrunners for the Book of Books in connection with the potential Offering.