Riyad Bank Start Offering 1st Dollar-denominated Sukuk’ Tranche

Riyad Bank started offering the 1^st tranche of US Dollar-denominated Sukuk, as of Wednesday until 02-10 2022.

The target group of the issuance is: institutional investors (qualified investors) in the countries that the offering shall take place, at, in accordance with the regulations and rules in force in these countries, Riyad Bank administration announced, in a statement posted on Tadawul.

HSBC, Merrill Lynch International, Riyad Capital and Standard Chartered Bank, were appointed as bookrunners, with a minimum subscription of $200,000 plus multiples of no less than $1,000.

The offering price of (the sukuk/bond) and the returns shall be determined according to market conditions, provided that the nominal value is $200,000.

As for the maturity period (the sukuk/ bond), it shall be permanent without a maturity date.

In some cases, the bank may redeem the sukuk, as described in the offering circular.

Nor does this announcement constitute an invitation or an offer to buy, own or subscribe for any securities.

The Bank shall announce any other material developments, in due time, in accordance with the relevant laws and regulations.

It shall be noted that Sukuk may be sold under Regulation S of the US Securities Act as amended.

This comes in reference to Riyad Bank’s announcement posted on the Saudi Stock Exchange (Tadawul) website on 02/07/2022, regarding its intention to issue the 1^st tranche of capital sukuk denominated in US Dollar, through a facility for special purposes and put them inside and abroad the Kingdom of Saudi Arabia, to qualified investors.