Riyadh – Mubasher: Riyad Bank has started issuing USD-denominated Tier 1 capital Sukuk to both Saudi Arabia-based and international investors.
The offering has started on 9 February and will end on the 10th of the month, according to a bourse disclosure on Wednesday.
The par value of the Sukuk offering has been set at $200,000 per note.
Riyad Bank announced a minimum subscription value of $200,000 besides integral multiples of $1,000.
The bank noted that the perpetual Sukuk's value, volume, and return will be determined according to market conditions.
On 7 February, the Saudi listed bank announced its intention to offer Sukuk and assigned HSBC, Riyad Capital, and Standard Chartered Bank as joint lead managers and bookrunners.
