Riyadh – Mubasher: Bank Albilad said it has concluded a SAR 2 billion sukuk issuance after obtaining all required approvals from the regulatory authorities.
The issuance has been effected through a private placement inside the Kingdom of Saudi Arabia, according to a bourse filing.
The issuance has a tenor of 10 years with the Bank having the right to call the sukuk at the end of the fifth year.
The return on Sukuk margin of 200 basis points added to the rate of three-month SIBOR.
The Bank said that the issuance will support its capital base in accordance with Basel III.
