K&A is pleased to have advised Riyad Bank as issuer counsel on the establishment of its SAR 10 billion Additional Tier 1 Capital Public Sukuk Programme and the inaugural issuance and listing thereunder on the Saudi Exchange (Tadawul). The issuance was upsized to SAR 10 billion following strong investor demand and represents one of the largest public sukuk offerings in the Saudi market in 2026.

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Riyad Bank is one of the Kingdom's leading financial institutions, and the programme forms part of its broader capital strategy to enhance its Tier 1 capital base and support future growth. The programme was structured as a Shariah-compliant Additional Tier 1 capital instrument and approved for listing on Tadawul.

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The K&A team was led by Partner Karim Wali and Associate Omran Dairawan, Supported by Duaa Amer and the team of associates.

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This transaction further demonstrates K&A’s debt capital markets capability and its experience advising on complex capital instruments, and public sukuk issuances in Saudi Arabia. It comes on the back of K&A shortlisted at the IFLR Middle East Awards 2026 for Saudi Arabian Law Firm of the Year and received nominations across multiple categories, including Debt and Equity-Linked Deal of the Year for its role advising on the Cenomi Centers SAR 4.5 billion sukuk refinancing transaction.‍