Saudi Awwal Bank announces its intention to issue U.S. Dollar denominated Tier 2 Capital Green Notes under its Medium Term Note Programme
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Awwal Bank (the "Bank") announces its intention to issue U.S. Dollar (“USD”) denominated Tier 2 Capital Green Notes (the “Notes”) by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally pursuant to its medium term note programme (the “Proposed Offer”).
The Bank has mandated HSBC Bank plc, Goldman Sachs International, Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, DBS Bank Ltd., Emirates NBD Bank P.J.S.C., Mashreqbank psc, Mizuho International plc, Société Générale, as Joint Lead Managers for the purpose of the Proposed Offer. |
| Offer Type | USD denominated Tier 2 Capital Green Notes. |
| Date of the board’s decision | 2025-08-14 Corresponding to 1447-02-20 |
| Value of the offer | The amount and terms of the offer of the Notes will be determined at a later stage based on market conditions. |
| The Purpose of the offer | Improvement of Tier 2 Capital, general corporate purposes and to fulfill the Bank’s financial and strategic objectives, all in accordance with the Bank’s Sustainable Debt Framework. |
| Approvals | The Proposed Offer will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations. |
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