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Saudi Arabia's Riyad Bank announced plans to issue riyal-denominated additional Tier 1 sukuk to strengthen its capital base in accordance with Basel III framework.
In a statement to the Saudi Stock Exchange (Tadawul) on Wednesday, the bank said the amount and terms of offer for the sukuk will be determined subject to market conditions.
(Writing by Brinda Darasha; editing by Cleofe Maceda)
