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Riyad Bank to redeem SAR 4bn Sukuk

Riyad Bank to redeem SAR 4bn Sukuk
Sukuk trading suspension will begin on 15 June 2020
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Riyadh – Mubasher: Riyad Bank plans to redeem its SAR 4 billion ten-year Sukuk in full at face value on 24 June 2020.

The Sukuk, issued on 24 June 2015, has an original maturity of ten years, due on 24 June 2025.

In accordance with the Sukuk's terms and conditions, Riyad Bank as the issuer can call the Sukuk on the periodic distribution date that falls on or nearest to 24 June 2020.

Regulatory approval has already been obtained in this regard, the bank disclosed in a statement to the Saudi Stock Exchange (Tadawul).

Sukuk trading suspension will begin on 15 June 2020.

Riyad Bank will transfer the redemption amount together with any periodic profit distribution to the Sukukholders' accounts on 24 June 2020, based on their respective Sukukholdings as of 15 June 2020.