Riyad Bank is planning to fully redeem its SAR 4 billion, subordinated (Tier 2) sukuk on June 24, 2020 at face value, the lender said in a statement to Tadawul on Monday.
The 10-year sukuk was originally maturing on June 24, 2025, and the required regulatory approval has been obtained for the early redemption.
On June 24, 2015 the bank issued 4,000 Sak with a face value of SAR 1 million each with 10 years maturity.
The redemption amount along with the periodic distribution amount (profit for the current period ending June 24, 2020) will be transferred to sukuk holders on that date based on their respective holdings as of June 15, 2020, the statement added.
|
Details of Redemption |
|
|
Amount of redeemed sukuk |
SAR 4 bln |
|
Percentage of redeemed sukuk |
100% |
|
Issuance date |
June 24, 2015 |
|
Trading end date |
June 15, 2020 |
|
Number of redeemed sukuk |
4000 Sak |
|
Sukuk par value |
SAR 1 mln |
|
Date of depositing the amount in sukuk holders’ accounts |
June 24, 2020 |
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