Riyad Bank Plans to Issue U.S. Dollar Denominated Tier 1 Capital Sukuk

Riyad Bank (the “Bank”) would like to announce its intention to issue U.S. dollar denominated Tier 1 capital sukuk (the “Sukuk”).

The offer is expected to be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally.

The Bank has mandated HSBC, Riyad Capital and Standard Chartered Bank as Joint Lead Managers and Bookrunners to do a series of investor meetings.

The Board of Directors of the Bank approved on 27/12/2021, the issuance and offering of the Sukuk, subject to the market conditions and in line with the Bank’s financial and strategic needs as deemed appropriate by the Bank.

The amount and terms of offer of the Sukuk will be determined subject to the market conditions.

The offer aims to support the Bank’s capital base and fulfill the Bank’s financial and strategic needs.

Offer of the Sukuk will be subject to the approval of the relevant regulatory authorities, and will be made in compliance with applicable laws and regulations.

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.