By Staff Writer

Saudi Arabia’s Riyad Bank has commenced the public offering and subscription period for its Saudi riyal-denominated AT1 capital sukuk under its SAR10 billion ($2.7 billion) programme.

The bank said in a Tadawul disclosure, the issuance size has been set initially at SAR5 billion ($1.33 billion), with the final amount to be determined after the offer period, based on market conditions.

The perpetual sukuk carries a fixed annual profit rate of 6.50%, payable quarterly, and may be redeemed by the bank starting from the fifth anniversary of issuance, subject to the terms and conditions of the offer.

The subscription period for retail and institutional investors began on July 21, 2026, and will close on August 3, 2026.

Riyad Capital has been appointed as financial adviser, sole arranger, and dealer for the transaction.

(Writing by Brinda Darasha; editing by Bindu Rai)

brinda.darasha@lseg.com