Riyad Bank completed its $750 million nicely price of USD-denominated additional Tier 1 lasting sukuk, below its international additional Tier 1 sukuk program.
The sukuk will definitely be chosenOct 3, the monetary establishment said in a declaration to Tadawul
| Offer Details | |
| Offer Type | USD-denominated lasting sukuk |
| Issuance Value | $ 750 mln |
| Total No of Sukuk | 3,750 (based mostly upon the group’s minimal limitation and total issuance dimension) |
| Nominal Value | $ 200,000 |
| Yield | 5.50% annually |
| Maturity Period | Perpetual, callable after 5 years |
| Redemption Terms | The sukuk is likely to be retrieved previous to the organized maturation day below specific issues as outlined within the providing spherical |
The sukuk will definitely be offered on London Stock Exchange’s International Securities Market (ISM). The sale of the sukuk is permitted simply based on Regulation S of the United States Securities Act of 1933, as modified.
The monetary establishment began onSept 26 its United States dollar-denominated lasting sukuk providing, Argaam reported.
