Riyad Bank announces the completion of the offer of its Saudi Arabian Riyal-denominated Additional Tier 1 Capital Sukuk
| Element List | Explanation |
|---|---|
| Offer Type | SAR-denominated Additional Tier 1 capital Sukuk. |
| Introduction | With reference to the announcement made by Riyad Bank (the “Bank”) published on the website of the Saudi Exchange Company (Tadawul) on 12/2/1444H (corresponding to 8/9/2022G), relating to the commencement of the Bank’s offer of a Saudi Arabian Riyal (“SAR”)-denominated Additional Tier 1 capital Sukuk (the “Sukuk”) by way of a private placement in the Kingdom of Saudi Arabia, the Bank would like to announce that it has completed the offer of the Sukuk on 9/3/1444H (corresponding to 5/10/2022G). |
| Offer Type | SAR-denominated Additional Tier 1 capital Sukuk. |
| Value of the offer | SAR 3,750,000,000 |
| Total number of (Bonds/Sukuk) | 15,000 (based on the minimum denomination and total issue size). |
| Par Value (Bonds/Sukuk) | SAR 250,000 |
| Return (Bonds/Sukuk) | 5.25 per cent. per annum payable quarterly in arrear on each Periodic Distribution Date from and including the issue date to but excluding 5/10/2027G (the First Reset Date). The return rate shall thereafter reset on the First Reset Date and every five years thereafter, as detailed in the offering circular in relation to the Sukuk. |
| Maturity (Bonds/Sukuk) | Perpetual |
| Terms of Redemption | The Sukuk may be redeemed by the Bank in certain cases as detailed in the offering circular in relation to the Sukuk. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate. |
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