The Saudi Investment Bank announced the end of offering Tier 1 Sukuk denominated in Saudi riyals, with a value of two billion riyals.
The bank said in a statement on the Saudi Tadawul that the sukuk will be settled today, Wednesday, June 29, 2022.
He added that the total number of Sukuk amounted to 2,000 based on the minimum denomination and the total issue size.
The nominal value of the instrument is one million riyals.
The Saudi Investment Bank indicated that the return of the instrument is 6% fixed annually, paid on a semi-annual basis, from the date of issuance until June 29, 2027.