Bank Albilad announces that it has successfully concluded Sukuk in SAR through a private placement inside the Kingdom of Saudi Arabia with an amount of SAR 2 billion (2,000,000,000 SAR) on Tuesday 27/11/1437 H (corresponding to 30/08/2016) ,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 issuance will support Bank Albilad capital base in accordance with Basel III. All required approvals from the regulatory authorities have been obtained for the issuance.
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