On August 10, 2026, Riyad Bank announced the completion of the offer and subscription of its SAR-denominated Additional Tier 1 Capital Sukuk under its SAR 10,000,000,000 Additional Tier 1 Capital Public Sukuk Programme, with total subscriptions reaching SAR 13,594,416,000, representing 2.7x oversubscription of the initial issuance size of SAR 5,000,000,000, prompting an upsize of the final issuance to SAR 10,000,000,000. The Sukuk, comprising 10,000,000 units at a par value of SAR 1,000 each, carry a fixed return rate of 6.50% per annum payable quarterly, with the rate subject to reset on August 13, 2031 and every five years thereafter. The perpetual Sukuk are eligible for early redemption from their fifth anniversary, with settlement scheduled for August 13, 2026, and proceeds will be used to enhance the Bank's Tier 1 capital and for general banking purposes, with listing on the Saudi Exchange (Tadawul) to follow upon completion of regulatory procedures.

Original announcement:

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