Riyad Bank seeks to issue dollar-denominated sukuk worth $3 bln

11/02/2020 Argaam

 

Riyad Bank announced its intention to issue dollar-denominated international Tier 2 sukuk for a total value not exceeding $3 billion (SAR 11.25 billion).

 

The terms and conditions of the first offer will be determined in accordance with market conditions, the bank said in a bourse statement on Tuesday.

 

The sukuk is intended to diversify sources of finance and its maturity, and strengthen the capital base of the bank, thus supporting the expansion of its credit business and other banking activities.

 

Riyad Bank has mandated J.P Morgan, Riyad Capital, Standard Chartered Bank, First Abu Dhabi Bank and HSBC as joint lead managers for the potential offer.

 

The sukuk offering will be subject to the approval of the relevant regulatory authorities and will be made in accordance with the applicable laws and regulations.

 

The bank will announce any other relevant material developments to its shareholders in due course.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.