Riyad Bank Plans Early Redemption of SAR 4 Billion Sukuk

Riyad Bank (RB) informed Tadawul that it was planning to fully redeem its SAR 4 billion, ten-year Sukuk on the 24th of June 2020. According to the statement on Tadawul, the Sukuk will be redeemed in full at its face value.

According to the IslamicMarkets Sukuk Monitor, RB issued SAR 4 billion Sukuk on the 24th of June 2015, for a period of ten years, maturing in June 2025. The SAR-denominated Sukuk was issued to enhance RB’s capital base, diversify its sources of financing and extend its maturities.

In its statement to Tadawul, RB informed that it has already obtained the necessary regulatory approvals for the early redemption of the Sukuk. The statement also echoed that RB, as...