Riyad Bank finished its $750 million well worth of USD-denominated added Tier 1 lasting sukuk, under its global added Tier 1 sukuk program.
The sukuk will certainly be decided onOct 3, the financial institution stated in a declaration to Tadawul
| Offer Details | |
| Offer Type | USD-denominated lasting sukuk |
| Issuance Value | $ 750 mln |
| Total No of Sukuk | 3,750 (based upon the classification’s minimal restriction and complete issuance dimension) |
| Nominal Value | $ 200,000 |
| Yield | 5.50% yearly |
| Maturity Period | Perpetual, callable after 5 years |
| Redemption Terms | The sukuk might be retrieved prior to the set up maturation day under particular problems as outlined in the offering round |
The sukuk will certainly be detailed on London Stock Exchange’s International Securities Market (ISM). The sale of the sukuk is acceptable just based on Regulation S of the United States Securities Act of 1933, as modified.
The financial institution started onSept 26 its United States dollar-denominated lasting sukuk offering, Argaam reported.
