Saudi Investment Bank (SAIB) intends to launch a dollar-denominated Tier I sukuk, potentially reaching up to $1.5 billion, under its new sukuk program. This offering will be available through a private placement aimed at qualified investors.
The specific value and terms of the sukuk will be decided based on market conditions, as mentioned in the bank’s disclosure on Tadawul.
SAIB stated that the sukuk issuance aims to bolster its Tier 1 capital and meet its financial and strategic objectives.
The issuance is pending approval from the relevant regulatory authorities.