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Riyad Bank starts offering Additional Tier 1 capital Sukuk

Riyad Bank starts offering Additional Tier 1 capital Sukuk
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Riyadh – Mubasher: Riyad Bank started on Thursday issuing SAR-denominated Additional Tier 1 capital Sukuk by way of a private placement in Saudi Arabia.

The amount and terms of the Sukuk offer will be determined as per market conditions, according to a stock exchange statement.  

The offering end date is 31 December 2022. Each of the minimum subscription value and the Sukuk par value amounts to SAR 250,000, whilst the offer price will be subject to market conditions.

The bank has mandated Riyad Capital as the Sole Lead Manager and Bookrunner. 

During the first half (H1) of 2022, the Tadawul-listed lender logged net profits worth SAR 3.16 billion, higher by 10.44% than SAR 2.86 billion in H1-21.