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Riyad Bank commenced the issuance of SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia, under its SAR 10 billion additional Tier 1 Sukuk program, the lender said in a statement on Tadawul.
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Sukuk Issuance Details |
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Offer Type |
SAR-denominated additional Tier 1 Sukuk |
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Offer Value |
To be determined as per market conditions |
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Start Date |
Jan. 7, 2025 |
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End Date |
Jan. 16, 2025 |
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Target Class |
Institutional and qualified clients as defined by the Capital Market Authority |
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Lead Manager |
Riyad Capital |
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Minimum Subscription Limit |
SAR 250,000 |
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Offer Price |
Subject to market conditions |
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Par Value |
SAR 250,000 |
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Sukuk Return |
Subject to market conditions |
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Maturity |
Perpetual subject to early redemption on a call date or as otherwise specified in the base offering circular and the applicable final terms relating to the sukuk |
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Terms of Redemption |
The sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed in certain cases as detailed in the base offering circular and the applicable final terms in relation to the sukuk. |
The offering end date referred to above is an expected date, subject to market conditions.
Riyad Bank will announce any other relevant material developments in due course.
According to data available on Argaam, Riyad Bank recently announced plan to issue SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia, under its SAR 10 billion additional Tier 1 Sukuk program.
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