AI Summary
Riyad Bank expects the notes to be settled on Jan. 14
Riyad Bank announced the completion of the issuance of USD-denominated, Tier 2 capital sustainable notes, with a total value of $1 billion, under its medium-term note (MTN) program.
In a statement on Tadawul, the bank said the settlement of the notes is expected to take place on Jan. 14.
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Issuance Details |
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Type of Issuance |
USD-denominated T2 capital sustainable notes under the MTN program |
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Offering Value |
$1 billion |
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Total No. of notes |
5,000 (based on minimum currency denomination and total issue volume) |
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Par Value |
$200,000 |
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Yield |
5.805% per annum |
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Maturity |
10 years, callable after 5 years |
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Redemption Terms |
Notes may be redeemed prior to maturity under certain conditions, as detailed in the base prospectus of the MTN program |
The debt instruments will be listed on the London Stock Exchange's International Securities Market (ISM). It may only be sold under Regulation S of the US Securities Act of 1933, as amended.
According to Argaam data, Riyad Bank announced yesterday, Jan. 7, the launch of the USD-denominated, Tier 2 capital sustainable notes to qualified investors inside and outside the Kingdom.
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