Logo of Riyad Bank
Riyad Bank announced today, Feb. 10, the completion of the issuance dollar-denominated Tier 1 capital sukuk, with a value of $750 million.
The settlement date of the sukuk is Feb. 16, Riyad Bank said in a statement to Tadawul.
The sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.
|
Sukuk Issuance Details |
|
|
Offer Type |
Dollar-denominated international Tier 1 sukuk |
|
Offer Value |
$750 million |
|
Number of Sukuk |
3,750 (based on the minimum denomination and total issue size) |
|
Target Investors |
Eligible investors in Saudi Arabia and internationally |
|
Par Value |
$200,000 |
|
Sukuk Return |
4% per annum |
|
Maturity |
Perpetual |
|
Terms of Redemption |
The sukuk may be redeemed by the bank in certain cases as detailed in the offering circular |
|
Issuance Managers |
HSBC, Merrill Lynch International, Riyad Capital and Standard Chartered Bank as joint lead managers and bookrunners |
Comments
{{DisplayName}}
{{ElapsedTime}}