According to the bank’s statement on the Saudi Stock Exchange website, the sukuk were issued on April 15, 2021, with a total value of 3 billion riyals, and an original maturity period of 10 years, i.e., on April 15, 2031.
According to the terms and conditions of the sukuk, Bank Albilad intends to call (redeem) the sukuk on the date of distribution of periodic returns, which is April 15, 2026 AD, corresponding to 10/27/1447 AH, in accordance with the regulations of the Saudi Central Bank, and based on condition 11(f) (Terms of redemption and repurchase of sukuk), noting that the approval of the Saudi Central Bank has been obtained in this regard.
He explained that the total number of redeemed sukuk is 3,000, with a redemption rate of 100%, while the nominal value of the sukuk upon redemption is one million riyals, while the total issuance value after redemption is zero.
She indicated that the date for depositing the funds into the accounts of the sukuk holders is April 15, noting that the entity responsible for the deposit and methods of communication is: Al Bilad Investment Company, in its capacity as payment agent and agent for the sukuk holders.
