Islamic Finance

Saudi Arabia's Riyad Bank issues $1.5 bln sukuk

Saudi Arabia's Riyad Bank has sold $1.5 billion in sukuk, the company said in a stock exchange filing on Wednesday (Feb 19).

The Tier 2 U.S. dollar sukuk carries a 10-year tenure but is callable after five years. 

The sukuk was sold at a fixed rate of 3.174% per annum.

It was sold as part of the bank's $3 billion sukuk programme. 

The sukuk will be listed on the London Stock Exchange. 

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