The first Saudi bank raises 650 million dollars from an additional capital bonds

The first Saudi Bank announced the completion of the offering of additional capital bonds from the first green segment and raised in the dollar, noting the settlement of the issuance of the sukuk on May 21.
The bank said in a statement on Saudi Arabia’s circulation: The value of the offering is 650 million dollars, while the total number of sukuk is 3250 sales, with a nominal value of 200 thousand dollars for the instrument.
The payment of the instrument is 6.5% per year, while the instruments are permanent without a due date, taking into account the possibility of its recovery early on the recovery date, or according to what is shown in the basic release bulletin, the complementary issuance bulletin and the final conditions applied to the sukuk.
The sukuk can be recovered early by the bank in certain cases as detailed in the basic version bulletin, supplementary issuance bulletin and the final applied conditions for the sukuk.