Sukuk AlKathiri
Issuer |
Sukuk AlKathiri a Special Purpose Entity established under CMA License No. (SPE00034) |
Sponsor |
Al Kathiri Holding a Saudi Public Listed Company on Tadawul |
Sponsor Rating |
SIMAH Rating Agency (Tassnief): “BBB-“ Stable outlook |
Programme |
Sukuk Issuance Programme that will issue Sukuk in series of separate issuance (each a “Series”) in accordance with the Conditions and the Applicable Final Terms in relation to the individual Sukuk issued in respect of each Series (the “Applicable Final Terms”). |
Size of Programme |
The issuance of up to SAR (500,000,000) in aggregate nominal amount of Sukuk that will be offered in series of separate issuance (each a “Series”) in accordance with the Conditions and the Applicable Final Terms in relation to the individual Sukuk issued in respect of each Series (the “Applicable Final Terms”). |
Sukuk Structure |
51.00% Mudaraba and 49.00% Murabaha |
Sukuk Status |
Senior/Unsubordinated, Unsecured |
Total Issue Size of the First Series (Series 1) |
Target issue size for the first series of issuance is a minimum amount of SAR 100,000,000 |
Tenor of Sukuk (Series 1) |
Five (5) years, with the principal amount to be paid at maturity date |
Annual profit rate (Series 1) |
8.50% per annum |
Periodic distribution of profits (Series 1) |
The profits will be paid on a Semi-Annual basis |
Nominal value per Sukuk |
SAR 1,000 |
Minimum value of subscription |
SAR 5,000 |
Offering Period |
Starts from 12/03/2023G and ends on 23/03/2023G |
Listing |
The Sukuk will be listed and traded on Tadawul |
Registrar |
Securities Depository Center Company (“Edaa”) |
Receiving Entities |
Riyad Bank, Arab National Bank, Dinar Investment |
Financial Advisor, Sole Arranger, Sukukholders’ Agent’s Delegate, and Payment Adminstrator |
AlKhair Capital Saudi Arabia |