Logo of Riyad Bank
Riyad Bank started today, Feb. 9, to offer dollar-denominated Tier 1 capital sukuk through a special purpose vehicle to eligible investors in Saudi Arabia and internationally, the bank said in a filing to Tadawul.
The amount and terms of the offer will be determined as per the market conditions.
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Sukuk Issuance Details |
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Offer Type |
Dollar-denominated international Tier 1 sukuk |
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Offer Value |
The amount and terms of offer will be determined as per the market conditions. |
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Start Date |
Feb. 9, 2022 |
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End Date |
Feb. 10, 2022 |
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Target Investors |
Institutional investors (qualified investors in the jurisdiction, in which the offering will be made in accordance with the rules and regulations of such jurisdictions) |
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Minimum Subscription Limit |
$200,000 and integral multiples of $1,000 in excess thereof |
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Offer Price |
Subject to market conditions |
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Par Value |
$200,000 |
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Sukuk Return |
Subject to market conditions |
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Maturity |
Perpetual |
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Terms of Redemption |
The sukuk may be redeemed by the bank in certain cases as detailed in the offering circular |
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Issuance Managers |
HSBC, Merrill Lynch International, Riyad Capital and Standard Chartered Bank as joint lead managers and bookrunners |
The sukuk may be sold as per the regulations under the US Securities Act of 1933, as amended.
The bank will announce any relevant developments in due course.
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