| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by Saudi Awwal Bank (the “Bank”) published on the website of the Saudi Exchange on 16/03/1445H (corresponding to 01/10/2023G), relating to the Bank’s intention to issue a Saudi Riyal denominated Additional Tier 1 Capital Sukuk (the “Sukuk”) by way of private placement in the Kingdom of Saudi Arabia pursuant to a SAR denominated Additional Tier 1 Sukuk issuance programme (the "Programme"), the Bank is pleased to announce the commencement of the offering of a fixed rate Sukuk tranche ("Tranche 1") and a floating rate Sukuk tranche ("Tranche 2"). |
| Offer Type | SAR denominated Additional Tier 1 Sukuk. |
| Value of the offer | The amount of the first issuance of Sukuk pursuant to the Programme will be determined subject to market conditions. |
| Offering start Date | 2023-10-11 Corresponding to 1445-03-26 |
| Offering end Date | 2023-10-24 Corresponding to 1445-04-09 |
| The targeted class of the issuance | Institutional and Qualified investors in accordance with the Rules on the offer of Securities and Continuing Obligations issued by the Capital Market Authority. |
| Name of Issuance Manager | The Bank has mandated HSBC Saudi Arabia as lead manager and dealer in relation the offering and issuance of the Sukuk. |
| Minimum Subscription | SAR 1,000,000 |
| Offer Price (Sukuk /Bonds) | Subject to market conditions. |
| Par Value | SAR 1,000,000 per Sak. |
| Return (Sukuk /Bonds) | Subject to market conditions. |
| Maturity (Sukuk /Bonds) | Perpetual, with certain redemption rights as described in the base offering circular in relation to the Sukuk. |
| Terms of Redemption | The Sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed early in certain cases as detailed in the base offering circular in relation to the Sukuk. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations. |
The Capital Market Authority and Saudi 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.