Al Rajhi Bank headquarters
Al Rajhi Bank started today, May 9, the offer of USD-denominated additional tier-1 capital sustainable sukuk.
According to a statement to Tadawul, the value and terms of the sukuk offering will be determined based on prevailing market conditions.
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Details |
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Offer Type |
USD-denominated additional tier-1 capital sustainable sukuk |
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Issuance Value |
Based on market conditions |
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Start Date |
March 9, 2024 |
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End Date |
March 10, 2024 |
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Target Category |
Qualified investors inside and outside Saudi Arabia |
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Management Entities |
Al Rajhi Capital, Citigroup Global Markets Limited, Dubai Islamic Bank., Emirates NBD Capital Limited, Goldman Sachs International, HSBC Bank plc, and Standard Chartered Bank as lead managers and bookrunners. |
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Minimum Limit |
$200,000, with increments of $1,000 |
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Offer Price |
Based on market conditions |
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Nominal Value |
$200,000 |
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Return |
Based on market conditions |
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Maturity Period |
May be redeemed after 5 years |
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Redemption Terms |
The sukuk may be redeemed before the scheduled maturity date under certain conditions as detailed in the offering circular |
The offering end date mentioned above is an expected date, subject to market conditions. The sukuk will be listed on London Stock Exchange's International Securities Market (ISM). The sale of the sukuk is permissible only in accordance with Regulation S of the US Securities Act of 1933, as amended.
The statement highlighted that this announcement does not constitute an invitation or an offer to buy, own, or subscribe to any securities and it is subject to the sukuk terms and conditions. The bank will announce any other material developments in a timely manner in accordance with the relevant laws and regulations.
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