Al Rajhi Bank starts offer of USD-denominated sukuk

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.

Details
Offer Type	USD-denominated additional tier-1 capital sustainable sukuk
Issuance Value	Based on market conditions
Start Date	March 9, 2024
End Date	March 10, 2024
Target Category	Qualified investors inside and outside Saudi Arabia
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.
Minimum Limit	$200,000, with increments of $1,000
Offer Price	Based on market conditions
Nominal Value	$200,000
Return	Based on market conditions
Maturity Period	May be redeemed after 5 years
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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