Islamic Finance

Saudi's Riyad Bank planning Tier 2 riyal sukuk

Saudi Arabia's Riyad Bank is planning to issue a Tier 2 sukuk.

The bank said in a bourse statement on Tuesday (Jan 19) that the capital-eligible sukuk will be issued in one or more tranches.

The sukuk will fall under the bank's local currency-denominated sukuk programme of up to 10 billion riyals that it intends to set up. 

The bank has mandated Riyad Capital as the sole arranger and dealer for the proposed sukuk programme and the potentail Tier 2 sale. 

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