Riyadh - Mubasher: Riyad Bank plans to issue USD-denominated Tier 2 capital sustainable notes under its medium-term note program.
The issuance will be offered to eligible investors in Saudi Arabia and internationally, according to a bourse filing.
Meanwhile, the notes are intended to support the bank’s general banking purposes.
Riyad Bank appointed FAB, Banco Bilbao Vizcaya Argentaria (BBVA), DBS Bank, Emirates NBD Capital, HSBC Bank, Merrill Lynch Kingdom of Saudi Arabia, Mizuho International, Riyad Capital, SMBC Bank International, and Standard Chartered Bank as joint lead managers.
Al Rajhi Bank’s Offering
Al Rajhi Bank intends to issue USD-denominated Additional Tier 1 capital social Sukuk under its International Additional Tier 1 capital Sukuk program, according to another bourse disclosure.
The offering will be carried out through a special purpose vehicle and offered to eligible investors in the Kingdom and abroad. It aims to strengthen its Tier 1 capital base, support general banking purposes, and advance its financial and strategic objectives in line with the bank's sustainable finance framework.
Al Rajhi Capital, Goldman Sachs International, HSBC, Morgan Stanley, Standard Chartered Bank, DIB, Emirates NBD Capital, FAB, Mashreq, Nomura, and Warba have been appointed as joint lead managers, with Affin Bank acting as co-manager.
stc’s Plan
Saudi Telecom Company (stc) aims to issue USD-denominated international trust certificates under its $5 billion international Sukuk program, according to a third bourse filing.
The Sukuk will be issued through an offshore special purpose vehicle established outside Saudi Arabia and may be offered in one or more tranches to eligible investors in the Kingdom and abroad.
Proceeds from the issuance are intended to be used for stc’s general corporate purposes.
stc has appointed BNP Paribas, Citibank, DIB, Emirates NBD Capital, HSBC, the Islamic Corporation for the Development of the Private Sector (ICD), Kuwait Finance House Capital (KFH), Mashreq Bank, National Bank of Greece (NBG), SNB Capital, and Standard Chartered Bank as joint lead managers.
It is worth noting that the amount and terms of the offerings for all three notes will be determined based on market conditions.
The three entities registered solid performance in the nine-month period that ended on 30 September, with stc logging net profits valued at SAR 11.57 billion.
Riyad Bank posted 9.98% year-on-year (YoY) higher profits at SAR 7.77 billion, while Al Rajhi Bank's net profits increased to SAR 18.41 billion from SAR 14.20 billion.
