Riyad Bank completes SAR 3.75 bln sukuk issue

Logo of Riyad Bank

Riyad Bank completed today, Oct. 5, the issuance of a SAR-denominated additional Tier-1 capital sukuk, worth SAR 3.75 billion, as indicated below:

Details
Offer Type	SAR-denominated additional Tier-1 capital sukuk
Offer Value	SAR 3.75 bln
Total Number (Bonds/Sukuk)	15,000 (based on the minimum denomination and total issue size)
Par Value (Bonds/Sukuk)	SAR 250,000
Return (Bonds/Sukuk)	5.25% per annum payable quarterly in arrears on each periodic distribution date from (and including) the issue date to (but excluding) Oct. 5, 2027 (the first reset date). The return rate shall thereafter reset on the first reset date and every five years thereafter, as detailed in the offering circular in relation to the sukuk
Maturity (Bonds/Sukuk)	Perpetual
Redemption Terms	The sukuk may be redeemed by the bank in certain cases as detailed in the offering circular in relation to the sukuk

The bank stressed that the announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk.

Riyad Bank announced, on Sept. 8, starting the offer of SAR-denominated additional Tier-1 capital sukuk, by way of a private placement in the Kingdom, according to Argaam’s data.

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