Riyad Bank planning USD sukuk under new programme
Saudi Arabia's Riyad Bank is planning to issue an international Tier 2 U.S. dollar sukuk under a new programme it says will not exceed $3 billion.
Funds raised from the first issuance under the new programme will diversify the bank's sources of finance, strengthen its capital base, support the expansion of its credit business and other activities, the company said in a filing with the Saudi stock exchange on Tuesday (Feb 11).
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