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Riyad Bank completes SAR 2B sukuk offering
Riyad Bank completed its SAR-denominated additional Tier 1 capital sukuk issuance under its SAR additional Tier 1 Sukuk program, worth SAR 2 billion, the lender said in a statement on Tadawul.
The sukuk will be settled on Jan. 23, the statement added.
| Sukuk Issuance Details | |
| Offer Type | SAR-denominated additional Tier 1 capital sukuk |
| Offer Value | SAR 2 bln |
| Total No. of Sukuk | 8000 suk |
| Par Value | SAR 250,000 |
| Sukuk Return | 6% annually |
| Maturity | Perpetual subject to early redemption on a call date or as otherwise specified in the base offering circular and the applicable final terms relating to the sukuk |
| Terms of Redemption | The sukuk are perpetual securities and accordingly do not have a fixed or final redemption date. However, they may be redeemed in certain cases as detailed in the base offering circular and the applicable final terms in relation to the sukuk. |
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