Riyad Bank Launches U.S. Dollar-Denominated Tier 2 Trust Certificates

Riyad Bank announced on Monday the launch of U.S. Dollar-denominated Tier 2 Trust Certificates (the “Trust Certificates”) under its International Trust Certificate Issuance Programme.

The Bank stated the final value and terms of the Trust Certificates offering will be determined based on market conditions, noting that the target audience for the issuance is qualified investors inside and outside the Kingdom of Saudi Arabia.

The minimum subscription amount is USD 200,000, in USD 1,000 increments, with a nominal value of USD 200,000. The offering price and yield will be determined based on market conditions.

According to a statement published on Tadawul, the sukuk will have a maturity of 10 years, with a callable period of five years. The Trust Certificates may be redeemed in certain circumstances, as detailed in the base offering document related to the Trust Certificates.

Riyad Bank mandated DBS Bank Ltd., HSBC Bank plc, J.P. Morgan Securities plc, Merrill Lynch International, Mizuho International plc, Riyad Capital, SMBC Bank International plc and Standard Chartered Bank as Joint Lead Managers.

It is worth noting that the Trust Certificates will be listed on the London Stock Exchange’s International Securities Market, and may be sold under Regulation S of the U.S. Securities Act of 1933, as amended.

This follows Riyad Bank’s announcement published on the Saudi Exchange website on July 03, 2025, regarding its intention to issue U.S. Dollar-denominated Tier 2 Trust Certificates through a special purpose vehicle and offer them to qualified investors inside and outside the Kingdom of Saudi Arabia.