Logo of Riyad Bank
Riyad Bank announced the full redemption of its $1.5 billion fixed rate reset international Tier 2 sukuk due 2030, at face value, at the end of the fifth year on Feb. 25.
|
Details of Redeemed Sukuk |
|
|
Type |
US-dollar denominated international Tier 2 sukuk |
|
Value |
$1.5 bln |
|
Redemption Ratio |
100 % |
|
Total Number of Sukuk |
7,500 (based on the minimum denomination and total size) |
|
Issue Date |
Feb. 25, 2020 |
|
Trading End Date |
Redemption date (Feb. 25, 2025) |
|
Nominal Value per Sak at Redemption |
$200,000 |
|
Date of Depositing the Amounts in the Sukuk Holders Accounts |
Feb. 25, 2025 |
In a statement to Tadawul, the bank said the relevant financial impact will likely appear in the first quarter of 2025.
The sukuk were issued on Feb. 25, 2020, with a 10-year maturity.
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