<p>Riyad Bank rang the opening bell of the London Stock Exchange today to celebrate the listing of Tier 2 1.5 billion US dollar worth of bonds on the London Stock Exchange, with the presence of the ambassador of the Kingdom of Saudi Arabia in the UK, H.R.H prince Khalid bin Bandar bin sultan and the United Kingdom international trade minister Mr. Conor Burns, that to celebrate the first bonds that includes issuing a primary and secondary bond inside and outside the Kingdom.</p><p>This transaction considered as a new transaction, because it is the first ever Basel III compliant USD Tier 2 bonds in the region, it is also the largest issued bonds in the region and the pricing achieved is one of the lowest compared to Tier 2 bonds globally in addition to that Riyad Bank is the only bank to have an outstanding USD-denominated Tier 2 bonds in the market which paving the path for other Saudi’s stock issuers and setting a benchmark to issue tier 2 for the region.</p><p>The investor demand for the bonds was one of the highest seen for GCC bonds issuers, which the demand for the subscription reached 8.3$ billion and this is about 5.5 times higher than the subscription value.</p><p>Tareq Al Sadhan, the bank’s CEO, commented “We are very proud with the outcome of this transaction, which reflects the confidence international investors placed on Riyad Bank, and more importantly on the Kingdom of Saudi Arabia. Our strategy is fully aligned with Saudi Vision 2030 and we continue to successfully deliver on our strategic objectives”.</p><p>Riyad Bank has empower JB morgana, Riyad Capital, Standard Chartered Bank Joint coordinators internationally in addition to Abu Dhabi first bank, HSBC, JB morgana, Riyadh Capital and Standard Chartered to work as a co-directors of the main issuers and co-directors of the subscription as well as Allen &amp; Overy international firm worked as a consultant for Riyad Bank, linklaters law firm worked as a consultant for co-directors of the main issuers and co-directors of the subscription.</p>