Riyadh – Mubasher: Riyad Bank intends to redeem $1.50 billion fixed rate reset tier 2 trust certificates due 2030, according to a bourse disclosure.
The sukuk was, issued on 25 February 2020, with an original maturity of 10 years until 25 February 2030.
In accordance with the sukuk's terms and conditions, Riyad Bank might require Riyad Sukuk Limited as issuer to call the sukuk on 25 February 2025.
The number of redeemed sukuk stands at 7,500 at a par value of $200,000, based on the minimum denomination and total size.
Earlier this month, the Saudi lender rolled out plans to offer SAR-denominated additional tier 1 capital sukuk to strengthen its capital base.
