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Riyad Bank redeems $1.5B Tier 2 sukuk
Riyad Bank announced the full redemption of its $1.5 billion fixed rate reset international Tier 2 sukuk due 2030, at face value, at the end of the fifth year on Feb. 25.
| Details of Redeemed Sukuk | |
| Type | US-dollar denominated international Tier 2 sukuk |
| Value | $1.5 bln |
| Redemption Ratio | 100 % |
| Total Number of Sukuk | 7,500 (based on the minimum denomination and total size) |
| Issue Date | Feb. 25, 2020 |
| Trading End Date | Redemption date (Feb. 25, 2025) |
| Nominal Value per Sak at Redemption | $200,000 |
Date of Depositing the Amounts
in the Sukuk Holders Accounts
| Feb. 25, 2025 |
In a statement to Tadawul, the bank said the relevant financial impact will likely appear in the first quarter of 2025.
The sukuk were issued on Feb. 25, 2020, with a 10-year maturity.
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