Logo of Riyad Bank

Riyad Bank announced today, Feb. 10, the completion of the issuance dollar-denominated Tier 1 capital sukuk, with a value of $750 million.

  

The settlement date of the sukuk is Feb. 16, Riyad Bank said in a statement to Tadawul.

 

The sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.

 

Sukuk Issuance Details

Offer Type

Dollar-denominated international Tier 1 sukuk

Offer Value

$750 million

Number of Sukuk

3,750 (based on the minimum denomination and total issue size)

Target Investors

Eligible investors in Saudi Arabia and internationally

Par Value

$200,000

Sukuk Return

4% per annum

Maturity

Perpetual

Terms of Redemption       

The sukuk may be redeemed by the bank in certain cases as detailed in the offering circular

Issuance Managers

HSBC, Merrill Lynch International, Riyad Capital and Standard Chartered Bank as joint lead managers and bookrunners

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