DEBT WATCH-

Riyad Bank set to redeem its USD 1.5 bn sukuk: Riyad Bank plans to redeem its Tier 2 USD 1.5 bn collateralized sukuk in full on 25 February, 2025, it said in a disclosure to Tadawul. While the 10-year sukuk, originally issued on 25 February, 2020, matures on 25 February, 2030, the bank opted to redeem them at the halfway point. Some 7.5k sukuk will be redeemed at a face value of USD 200k each.

HOSPITALITY-

Abu Dhabi-based Rotana Hotels is looking to bolster its presence in Saudi Arabia’s smaller cities, such as Al Baha and Asir, its CEO Eddy Tannous told Arab News. “We see tremendous potential for expansion in Saudi Arabia … as demand for business and leisure travel soars to new heights in anticipation of major events such as the FIFA World Cup 2034,” said Tannous.

REMEMBER- Rotana revealed in May it plans to add seven hotels across the Kingdom over the next five years as part of its expansion plan.

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