Riyad Bank to tap local and overseas bond markets

Riyad Bank to tap local and overseas bond markets
Riyad Bank to tap local and overseas bond markets
RIBL 1010 0.60% 16.70 0.10

Riyadh - Mubasher: Riyad Bank has revealed its plans to launch a programme for issuing primary and secondary bonds and debt instruments in Saudi Arabia and abroad.

The issues are expected to be implemented on one tranche or in several phases and may be denominated in USD, Saudi riyals, or other currencies after obtaining regulatory approvals, according to a bourse statement.

The board of Saudi Arabia's fourth-largest bank by assets approved the programme on September 2017.

The new scheme aims to shore up the bank’s expansion plans, enhance credit business, improves the operating capital, in addition to diversifying finance sources, the Saudi lender noted.

Related topics
Source: Mubasher

Comments