Riyad Bank announces its intention to issue U.S. dollar denominated tier 2 capital sustainable notes under its medium term note programme
| Element List | Explanation |
|---|---|
| Introduction | Riyad Bank (the “Bank”) announces its intention to issue U.S. dollar denominated tier 2 capital sustainable notes (the “Notes”) under its medium term note programme established by it on 05/01/2026G, based on its Board of Directors resolution dated 05/02/1446H (corresponding to 09/08/2024G).
The issuance of Notes will be by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally (the “Proposed Offer”). The Bank has mandated First Abu Dhabi Bank PJSC, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), DBS Bank Ltd, Emirates NBD Capital, HSBC Bank plc, Merrill Lynch Kingdom of Saudi Arabia, Mizuho International plc, Riyad Capital, SMBC Bank International plc and Standard Chartered Bank as Joint Lead Managers in relation to the Proposed Offer. |
| Offer Type | U.S. dollar denominated tier 2 capital sustainable notes. |
| Date of the board’s decision | 2024-08-09 Corresponding to 1446-02-05 |
| Value of the offer | The amount and terms of the offer of Notes will be determined subject to the market conditions |
| The Purpose of the offer | General banking purposes. |
| Approvals | The offer of the Notes will be subject to the approval of the relevant regulatory authorities, and will be made in compliance with applicable laws and regulations. |
| 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 Notes. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations. |
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