Impact46 Announces The Launch Of Tier 1 Capital Sukuk Programme
Impact46, a licensed asset management and arranging firm by the capital market authority in Saudi has announced its assignment as the financial advisor for a non-bank financial institution (NBFI) tier 1 capital sukuk programme
The non-bank financial institution is a Saudi Closed Joint Stock Company licensed by SAMA to provide Shariah compliant financing solutions to individuals and SMEs plans to launch a first of its kind SAR 500m Tier 1 Capital Sukuk
The sukuk is perpetual with a call option after five years when the issuer has the right to redeem the sukuk at face value. The sukuk is classified as Tier 1 capital for regulatory purposes and the Sukukholders may deduct the sukuk from their Zakat base for zakat purposes. The sukuk will be registered upon issuance with Edaa as an unlisted sukuk.
The sukuk is offered to qualified investors in Saudi Arabia and the first issuance is expected to close before the end of Q3 2024.
The announcement does not constitute an invitation or an offer to buy, own or subscribe to any securities. It is subject to the sukuk terms and conditions.
