CAYMAN ISLANDS - Riyad Sukuk Limited, a Cayman Islands-based company with limited liability, has announced that it will redeem its $1.5 billion Fixed Rate Reset Tier 2 Trust Certificates due 2030. The redemption date is set for February 25, 2025, and the certificates will be redeemed at 100 percent of their aggregate outstanding face amount.
The certificates in question were issued on February 25, 2020, under Riyad Sukuk Limited's $3 billion Trust Certificate Issuance Programme. The redemption will include all unpaid Periodic Distribution Amounts accrued from the last Reset Certificate Periodic Distribution Date up to but not including the Optional Dissolution Date.
Following the redemption, the trust will terminate, the certificates will cease to represent undivided ownership interests in the Trust Assets, and no further payments will be made. Additionally, the certificates will be canceled and de-listed from the London Stock Exchange (LON:LSEG)'s International Securities Market.
This action is in accordance with Condition 11.4 (Dissolution at the Option of the Trustee) of the Certificates. The Trustee has given irrevocable notice to the certificate holders that it has elected to redeem the outstanding Certificates on the aforementioned date.
The redemption of these securities is not open to U.S. investors and will not be registered under the U.S. Securities Act. No public offer of the securities is being made in the United States.
The information about this redemption is based on a press release statement issued by Riyad Sukuk Limited.
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