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Riyad Bank completes issuance of $1B T2 capital sustainable notes
Riyad Bank announced the completion of the issuance of USD-denominated, Tier 2 capital sustainable notes, with a total value of $1 billion, under its medium-term note (MTN) program.
In a statement on Tadawul, the bank said the settlement of the notes is expected to take place on Jan. 14.
| Issuance Details | |
| Type of Issuance | USD-denominated T2 capital sustainable notes under the MTN program |
| Offering Value | $1 billion |
| Total No. of notes | 5,000 (based on minimum currency denomination and total issue volume) |
| Par Value | $200,000 |
| Yield | 5.805% per annum |
| Maturity | 10 years, callable after 5 years |
| Redemption Terms | Notes may be redeemed prior to maturity under certain conditions, as detailed in the base prospectus of the MTN program |
The debt instruments will be listed on the London Stock Exchange's International Securities Market (ISM). It may only be sold under Regulation S of the US Securities Act of 1933, as amended.
According to Argaam data, Riyad Bank announced yesterday, Jan. 7, the launch of the USD-denominated, Tier 2 capital sustainable notes to qualified investors inside and outside the Kingdom.
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