Riyad Bank starts issuing USD-denominated sukuk

Logo of Riyad Bank

Riyad Bank started the issuance of USD-denominated additional Tier 1 sustainable sukuk, according to a Tadawul statement.

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The final issuance value and offering terms will be determined based on market conditions.

Issuance Details
Type	USD-denominated additional Tier 1 sustainable sukuk
Value	The final issuance value and offering terms will be determined based on market conditions.
Start of Issuance	Sept. 26, 2024
End of Issuance	Sept. 27, 2024
Target Investors	Qualified investors in Saudi Arabia and internationally.
Issuance Manager	Riyad Bank appointed HSBC Bank PLC, Kamco Investment Co., Merrill Lynch International, Mizuho International, Morgan Stanley & Co. International, Riyad Capital, SMBC Nikko Capital Markets Ltd, Standard Chartered Bank, and Warba Bank as joint lead managers and bookrunners for the potential issuance.
Minimum Subscription Value	$200,000 and in increments of $1,000 in excess thereof.
Offering Price	Subject to market conditions
Par Value	$200,000
Return	Subject to market conditions
Maturity	Perpetual, callable after 5 years
Terms of Redemption	The sukuk may be redeemed in certain cases as detailed in the offering circular

This 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.

The bank will announce any other material developments in due course as required by the relevant rules and regulations, the statement added.

The sukuk will be listed on the London Stock Exchange's International Securities Market. It may be sold under Regulation S of the US Securities Act of 1933, as amended.

The abovementioned offering end date is an expected date and is subject to market conditions.

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