Riyadh – Mubasher: The Saudi British Bank (SABB) plans early redemption of its SAR 1.5 billion Tier 2 Sukuk on 31 May 2020 at face value.
The Sukuk was offered through private placement on the 28 May 2015, for an amount of SAR 1.5 billion, qualifying as Tier 2 subordinated debt in accordance with the Basel III framework, according to a statement to the Saudi Stock Exchange (Tadawul).
The original maturity date for the Sukuk was 28 May 2025.
