Riyad Bank — Capital/Financing Update 2021

Jan 20, 2021

Riyad Bank announces the commencement of the offer of its Tier 2 Sukuk

1010 · 20/01/2021 08:53:32 · Announcement #61701 · View on Saudi Exchange

Riyad Bank announces the commencement of the offer of its Tier 2 Sukuk

Element List	Explanation
Introduction	With reference to the announcement from Riyad Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 19-1-2021G (corresponding to 6-6-1442H), relating to the intention of the Bank to establish a domestic SAR-denominated Sukuk issuance programme of up to SAR 10 billion and its intention to issue senior and/or subordinated Sukuk including the issuance of Tier 2 capital-eligible Sukuk, the Bank would like to announce the commencement of the offer of Tier 2 capital-eligible Sukuk.
Offer Type	SAR-denominated Tier 2 capital-eligible Sukuk offered by way of private placement in the Kingdom of Saudi Arabia.
Value of the offer	The amount of the issuance and number of Sukuk will be determined based on the market conditions.
Offering start Date	2021-01-20 Corresponding to 1442-06-07
Offering end Date	2021-02-09 Corresponding to 1442-06-27
The targeted class of the issuance	Sophisticated Investors in accordance with Article 9 of the Rules on the Offer of Securities and Continuing Obligations.
Name of Issuance Manager	Riyad Capital as Sole Arranger and Dealer.
Minimum Subscription	One million Saudi Riyals (SAR 1,000,000).
Offer Price (Sukuk /Bonds)	One million Saudi Riyals (SAR 1,000,000).
Par Value	One million Saudi Riyals (SAR 1,000,000).
Return (Sukuk /Bonds)	6 months SAIBOR in addition to a margin (to be determined subject to market conditions)
Maturity (Sukuk /Bonds)	10 years callable at year 5, subject to the terms and conditions of the Sukuk.
Terms of Redemption	The Sukuk shall be redeemed on the maturity date.

The Sukuk may be redeemed prior to the maturity date in certain cases due to a capital disqualification event, a tax event, an event of default, or an issuer call option, each pursuant to terms and conditions of the Sukuk. Additional Information The Issuing End Date referred to above is the expected date of the end of the offering, subject to market conditions.

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities.

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.