Riyad Bank plans to fully redeem its SAR 4 billion sukuk maturing 2020 on Nov. 11, the lender said in a statement to Tadawul today.

 

On Nov. 11, 2013, the bank issued 4,000 sak with a face value of SAR 1 million each and a seven-year maturity.

 

Riyad bank has already obtained the required regulatory approvals, the statement said.

 

The redemption amount along with the periodic distribution amount for the period ending Nov. 11 will be deposited into sukuk holders’ accounts on the next day, it added.

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