Saudi Investment Bank, “Istithmar”, announced today, Thursday, its intention to redeem the secondary category 1 sukuk issued with a value of 285 million riyals, on the first date of the voluntary purchase, which is June 6, 2022.
Saudi Investment Bank stated, in a statement on “Tadawul Saudi” that the sukuk was issued through a private placement on June 6, 2017, with a face value of 285 million riyals.
The repayment rate of the total principal is 100% and the face value of the instrument at the time of repayment is one million riyals.
He added that under the terms and conditions of the sukuk, it can be redeemed at the discretion of the issuer (The Saudi Investment Bank) on the first date of the optional purchase, indicating that legal approval has been obtained to allow the issuer to exercise your purchase option on the purchase date.
He explained that the redemption amount with any periodic distribution amounts (profit of the current periodic distribution period ending June 6, 2022) will be transferred to the bearer accounts, in based on the number of sukuk owned by each of them, starting from the beginning of the working day to the date of registration of the transfer, or 7 working days before the date of the transfer.
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