Riyadh – Mubasher: Riyad Bank plans to offer USD-denominated Tier 1 capital Sukuk to local and international investors through a special purpose vehicle.

The bank has assigned HSBC, Riyad Capital, and Standard Chartered Bank as joint lead managers and bookrunners, according to a bourse filing on Monday.

Subject to the approval of the relevant regulatory authorities, the issuance aims to support the bank’s capital base and achieve its financial and strategic needs.