Riyad Bank — Capital/Financing Update 2020

Feb 19, 2020

Riyad Bank announces the completion of the first offering of International Tier 2 Sukuk denominated in U.S. Dollars

1010 · 19/02/2020 09:27:17 · Announcement #57579 · View on Saudi Exchange

Riyad Bank announces the completion of the first offering of International Tier 2 Sukuk denominated in U.S. Dollars

Element List	Explanation
Issuance Type	International Tier 2 Sukuk denominated in U.S. dollars.
Introduction	Reference to the announcement from Riyad Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 24/06/1441H (corresponding to 18/02/2020) relating to its commencement to offer International Tier 2 Sukuk denominated in U.S. Dollars under its programme that was established to issue primary and secondary bonds and instruments inside and outside the Kingdom of Saudi Arabia (the “Programme”) the Bank would like to announce that it has now completed the offering of certificates under the Programme (the “Certificates”) and the settlement of the Certificates issuance will be on 01/07/1441H (corresponding to 25/02/2020) (the “Issue Date”)
Issuance Type	International Tier 2 Sukuk denominated in U.S. dollars.
Issuance Amount	USD 1,500,000,000
Total number of (Bonds/Sukuk)	7,500 (Based on the minimum denomination and total issue size)
Par Value (Bonds/Sukuk)	USD 200,000
Return (Bonds/Sukuk)	3.174% per annum fixed rate payable semi-annually in arrear on each Periodic Distribution Date from and including the Issue Date to but excluding 25 February 2025 (the “First Call Date”). The return rate shall thereafter reset on the First Call Date.
Maturity (Bonds/Sukuk)	25 February 2030, Callable from 25 February 2025 (the “First Call Date”)
Terms of Redemption	The certificates may be redeemed prior to the scheduled maturity date due to:

(1) A Capital Disqualification Event;

(2) Tax reasons; or

(3) At the option of the Bank on the Periodic Distribution Date that falls on the fifth anniversary of the Issue Date, and each Periodic Distribution Date thereafter in each case, subject to the terms and conditions of the certificates. Additional Information The Certificates will be listed on International Securities Market of the London Stock Exchange. The Certificates may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended. The Bank will continue to complete all necessary procedures to issue the Certificates and allocate such Certificates to the investors

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.