Riyadh – Mubasher: Riyad Bank has secured $750 million from selling 3.75 million Sukuk notes at a par value of $200,000 each.
The Saudi lender announced on 10 February the completion of its USD-denominated Tier 1 Capital Sukuk offering, which commenced on the 9th of the month, according to a bourse filing on Thursday.
The settlement of the perpetual-Sukuk issuance will be on 16 February.
Riyad Bank added that the annual return has been set at 4%.
On 7 February, the bank unveiled its intention to issue USD-denominated Sukuk through a special purpose vehicle to eligible local and international investors.
