Riyad Bank intends to issue primary and secondary bonds and sukuk in US dollars and to offer them inside and outside Saudi Arabia, without specifying a timeframe for it.
According to Arabia Net, the bank stated that the value of the offering would not exceed $ 3 billion, with the aim of diversifying sources of financing, their maturities, and strengthening the bank’s capital base.
The bank has appointed GB Morgan, Riyad Capital, Standard Chartered Bank and HSBC, as well as First Abu Dhabi Bank as combined managers of the expected launch.
The expected offering aims to diversify funding sources and their maturities and strengthen the bank’s capital base, which supports the expansion of its credit business and support in conducting its banking activities.
The proposed offering is subject to the approval of the relevant official authorities, and the offer will be made in accordance with the relevant laws and regulations.
