Saudi Arabia’s Riyad Bank plans to issue riyal-denominated sukuk

RIYADH: Riyad Bank announced on Wednesday its intention to issue riyal-denominated sukuk on private placement basis.

Riyad Capital has been mandated as the sole lead manager and book runner for the potential Tier 1 capital sukuk offer, according to a bourse filing.

The amount and terms of the prospective issuance will be determined at a later stage, subject to market conditions.

Getting the required regulatory approvals is also necessary to proceed with the transaction.