The London Stock Exchange welcomes The Saudi Investment Bank’s Debut tier 1 sustainable sukuk issuance

The London Stock Exchange is pleased to announce the listing of The Saudi Investment Bank’s debut Tier 1 Sustainable Sukuk Issuance of US$ 750 million. This significant issuance marks a milestone in the bank’s commitment to sustainable finance and reinforces its position as a leader in responsible banking practices in the Kingdom of Saudi Arabia.

The team celebrating on the balcony at LSEG during the welcome ceremony.

About the Saudi Investment Bank

The Saudi Investment Bank (SAIB) is a leading financial institution in the Kingdom of Saudi Arabia dedicated to delivering innovative conventional and Sharia-compliant banking solutions. With a strong focus on customer service and social responsibility, SAIB plays a vital role in supporting economic growth and development in the Kingdom.

A Landmark Issuance

This landmark Sukuk issuance, with a Second Party Opinion (SPO) from Sustainable Fitch, demonstrates SAIB’s dedication to aligning its financial activities with Environmental, Social and Governance (ESG) principles. The overwhelming investor demand underscores the confidence in SAIB’s credit worthiness and strategic direction. The funds raised will be allocated to financing and refinancing eligible projects under SAIB’s Sustainable Finance Framework. These initiatives contribute to the Kingdom’s Vision 2030 plan for a sustainable future.

“I would like to thank the investor community for the overwhelming confidence shown in The Saudi Investment’s Bank. This Sustainable Sukuk Issuance is a strategic step in enhancing our financial framework. It aligns with our commitment to sustainability and reinforces our position as a leader in responsible banking practices. This issuance not only broadens our investor based but also sets a benchmark for future bond issuances in the region”.

Salman Bader Al-Fughom
Deputy Chief Executive Officer of The Saudi Investment Bank

Advisors and Participants

We are grateful for the support of our advisors and partners, including Standard Chartered Bank (SCB), HSBC, Citi, Alistithmar Capital, JP Morgan, Goldman Sachs, Arqaam Capital, MUFG, Clifford Chance, and A&O Shearman, whose expertise was crucial in the successful completion of this issuance.

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