Today, Thursday, Riyad Bank completed the issuance of Tier 1 capital bonds denominated in US dollars.
According to Arabiya Net, the bank said in a statement that the sukuk, which were offered inside and outside the Kingdom of Saudi Arabia to qualified investors, amounted to $750 million.
The total number of sukuk amounted to 3,750, based on the minimum denomination and the total volume of issuance. The face value of the instrument is $200,000.
The bank explained that the return on the sukuk is 4% annually, indicating that the sukuk that were issued are permanent sukuk, and the bank may in some cases recover them.
He appointed HSBC, Riyad Capital and Standard Chartered Bank as bookrunners and bookrunners to hold calls with investors.
The offering aims to support the bank's capital base and meet its financial and strategic needs.
