Riyad Bank completes SAR 3.75 bln sukuk issue

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Riyad Bank completed today, Oct. 5, the issuance of a SAR-denominated additional Tier-1 capital sukuk, worth SAR 3.75 billion, as indicated below:

 

Details

Offer Type

SAR-denominated additional Tier-1 capital sukuk

Offer Value

SAR 3.75 bln

Total Number (Bonds/Sukuk)

15,000 (based on the minimum denomination and total issue size)

Par Value (Bonds/Sukuk)

SAR 250,000

Return (Bonds/Sukuk)

5.25% per annum payable quarterly in arrears on each periodic distribution date from (and including) the issue date to (but excluding) Oct. 5, 2027 (the first reset date). The return rate shall thereafter reset on the first reset date and every five years thereafter, as detailed in the offering circular in relation to the sukuk

Maturity (Bonds/Sukuk)

Perpetual

Redemption Terms

The sukuk may be redeemed by the bank in certain cases as detailed in the offering circular in relation to the sukuk

 

The bank stressed that the 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.

 

Riyad Bank announced, on Sept. 8, starting the offer of SAR-denominated additional Tier-1 capital sukuk, by way of a private placement in the Kingdom, according to Argaam’s data.  

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