Riyad Bank announces its intention to issue SAR denominated additional tier 1 capital sukuk under its additional tier 1 capital sukuk programme
| Element List | Explanation |
|---|---|
| Introduction | Riyad Bank (the “Bank”) announces its intention to issue a Saudi Riyal (“SAR”) denominated additional tier 1 capital sukuk (the “Sukuk”) by way of private placement in the Kingdom of Saudi Arabia (the “Proposed Offer”) pursuant to its SAR 10,000,000,000 additional tier 1 capital sukuk programme.
The Bank has mandated Riyad Capital as sole lead manager in relation to the Proposed Offer. |
| Offer Type | Private placement of SAR denominated additional tier 1 capital sukuk. |
| Date of the board’s decision | 2024-11-28 Corresponding to 1446-05-26 |
| Value of the offer | The amount and terms of offer of the Sukuk will be determined at a later stage based on market conditions at that time. |
| The Purpose of the offer | To strengthen the Bank’s capital base and for general banking purposes. |
| Approvals | The Proposed Offer will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations. |
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