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الاقتصادية
Al Riyadh Bank launches 5B Riyal sukuk
Riyad Bank has begun offering Tier 1 Additional Capital Sukuk, denominated in Saudi Riyals, with an initial value of 5 billion SAR. This is part of a planned issuance ahead of the end of the offering period, which is scheduled for August 3rd. The Sukuk carry a fixed annual return of 6.5%, paid quarterly, and are considered perpetual with early redemption options starting from the fifth year. Both individuals and institutional investors can subscribe to them inside and outside of Saudi Arabia, with a minimum subscription of one Sukuk valued at 1,000 SAR. Riyad Financial Company has been appointed as the financial advisor and sole arranging bank for the issuance process.
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