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Saudi Arabia’s Riyad Bank plans to issue an additional dollar denominated Tier 1 capital sukuk with the purpose to improve the bank’s Tier 1 capital and to be utilised further for general banking purposes.
The sustainable sukuk will fall under the bank’s international additional Tier 1 capital sukuk programme established on 10 September 2024 with the amount and terms of offer to be determined subject to the market conditions.
The issuance is expected to be through a special purpose vehicle, open to eligible investors in Saudi Arabia and internationally.
HSBC Bank, Kamco Investment Company, Merrill Lynch International, Mizuho International, Morgan Stanley & Co. International, Riyad Capital, SMBC Nikko Capital Markets Limited, Standard Chartered Bank and Warba Bank K.S.C.P. have been appointed as joint lead managers and bookrunners.
(Writing by Bindu Rai, editing by Seban Scaria)
