• Register
Riyad Bank

Riyad Bank sells $1bn Islamic bond

: Sunday, November 10 - 2013 @ 00:00

Saudi Arabia’s third-largest lender by market value, Riyad Bank has said it has sold an Islamic bond worth SR4bn ($1.07bn) through a private placement, Gulf Daily News has reported. The sukuk will be used to diversify its funding sources, extend the maturity of its funding and support the financing of Shari’ah-compliant business, the bank said. Riyad Bank is the latest Saudi lender to issue a riyal-denominated sukuk, tapping into a highly liquid local investor pool to secure cheaper, longer-term finance that would be hard to obtain through the loan market.

Today's Top Stories

Posted by

Sunday, November 10- 2013 @ 0:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services





Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically



JobsVIEW ALL

Search for jobs

Latest Jobs