Riyad Bank sukuk initial price set at 6%

26/09/2024 Argaam
Logo ofRiyad Bank

Logo of Riyad Bank 

The initial price for Riyad Bank sukuk was set at nearly 6%, said capital markets intelligence provider International Financing Review (IFR).

 

It added that the sustainable, non-call, 5.5-year perpetual Mudaraba sukuk are being issued through a special purpose vehicle, Riyad T1 Sukuk Limited, under the bank’s $5 billion Additional Tier 1 Capital Certificates Issuance Program.

 

The size of the sukuk issue will be determine based on market conditions, IFR said.

 

According to data available to Argaam, Riyad Bank started today the issuance of USD-denominated additional Tier 1 sustainable sukuk.

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