Riyad Bank announces the redemption of its SAR 4 billion Sukuk due 2025
| Element List | Explanation |
|---|---|
| Introduction | Riyad Bank is pleased to announce its intention to call (redeem) its SAR 4 billion Sukuk due 2025 (the “Sukuk”) (Tadawul Code: 1012 – Riyad Bank Sukuk ), in full, at face value (100% of issue price) at the end of year five (5) (24 June 2020).
The Sukuk was issued on 24 June 2015 for an aggregate value of SAR 4 billion (4,000 Sak with a face value of SAR 1,000,000 each) with an original maturity of ten (10) years due on 24 June 2025 and in accordance with the Sukuk's terms and conditions, Riyad Bank as 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 redemption amount together with any periodic distribution amount (profit for the current periodic distribution period ending 24 June 2020) will be transferred by Riyad Bank to the Sukukholders' accounts on 24 June 2020 based on their respective Sukukholdings as of 15 June 2020 (start of the Sukuk trading suspension period). |
| Issuance Type | Subordinated (Tier 2) |
| Amount of redeemed (bonds/sukuk) | SAR 4 billion |
| Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) | 100 % |
| Number of redeemed (bonds/sukuk) | 4,000 Sak |
| Issuance Date | 2015-06-24 Corresponding to 1436-09-07 |
| Trading End Date | Start of the Sukuk trading suspension period: 15 June 2020 |
| Sukuk Par Value at Redemption Date | SAR 1,000,000 per Sak |
| Total issuance value after redemption | 0 |
| Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts | 2020-06-24 Corresponding to 1441-11-03 |
| Name of the Entity Responsible for the Deposit and Contact Details | For any further information or questions, kindly contact the Investors Relations department:
Direct line: 0112763007 Phone number: 0114013030 extension (2445), (2499) and (2448) during operating hours Email: [email protected] |
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