Conor was delighted to open the London Stock Exchange alongside Saudi Ambassador to the UK His Royal Highness Prince Khalid Bin Bandar Al Saud, and senior managers of the Riyad Bank and other dignitaries.
The occasion was to celebrate the admission of USD 1.5 bn USD Tier 2 Sukuk and was novel because it is the first ever Basel III compliant USD Tier 2 Sukuk from the region and Saudi Arabia. It is also the largest issue size raised in a debut Sukuk from the region and the pricing achieved is one of the lowest compared to Tier 2 instruments globally.
