Riyad Bank Sukuk Draws SAR 13.6B Orders, Upsized to SAR 10B

CEO Nadir Al-Koraya said the subscription results reflect the trust investors place in the bank and reinforce its financial position. He described the issuance as a milestone in the bank's growth path and a way to boost financial flexibility for opportunities in the Saudi market.

Riyad Bank's total assets crossed the SAR 500 billion threshold for the first time in its history earlier this year, a mark the bank cites as evidence of its solvency and capacity to run large-scale financing initiatives.

The sukuk sale adds to a busy period for Saudi bank capital raising. Regional lenders have leaned on tier 1 instruments to meet Basel III requirements while funding credit growth tied to Vision 2030 projects. Riyad Bank's oversubscription suggests investor appetite for Saudi bank paper remains firm even as global rates stay elevated.

The bank did not disclose the profit rate on the sukuk or a listing date for the instruments.