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.
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Sukuk Issuance Details |
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Offer Type |
Dollar-denominated international Tier 1 sukuk |
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Offer Value |
$750 million |
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Number of Sukuk |
3,750 (based on the minimum denomination and total issue size) |
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Target Investors |
Eligible investors in Saudi Arabia and internationally |
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Par Value |
$200,000 |
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Sukuk Return |
4% per annum |
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Maturity |
Perpetual |
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Terms of Redemption |
The sukuk may be redeemed by the bank in certain cases as detailed in the offering circular |
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Issuance Managers |
HSBC, Merrill Lynch International, Riyad Capital and Standard Chartered Bank as joint lead managers and bookrunners |
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