Al Rajhi Bank launches sustainable dollar-denominated sukuk

Al Rajhi Bank launches sustainable dollar-denominated sukuk issue

Al Rajhi Bank headquarters

Al Rajhi Bank launched a US dollar-denominated sustainable sukuk under its international sukuk program, the bank said in a statement to Tadawul today, March 29.

The amount and terms of the sustainable sukuk issuance will be determined as per the market conditions.

The table provides the details of the sukuk issuance:

Sukuk Details
Offer Type	US dollar-denominated senior unsecured sustainable sukuk
Offer Value	The offer amount and terms will be determined as per the market conditions
Start Date	March 29, 2023
End Date	March 30, 2023
Target Investors	Eligible investors in Saudi Arabia and internationally
Minimum Subscription Limit	$200,000 with increments of $1,000 in excess thereof
Offer Price	Subject to market conditions
Par Value	$200,000
Sukuk Yield	Subject to market conditions
Maturity	5 years
Terms of Redemption	The sustainable sukuk may be redeemed before the maturity date in certain cases as detailed in the offering circular of the sustainable sukuk
Issuance Managers	Al Rajhi Capital, Citigroup Global Markets Ltd, Emirates NBD, Goldman Sachs International, HSBC Bank, J.P. Morgan Securities, KFH Investment Co. and Standard Chartered Bank as joint lead managers and bookrunners.

Al Rajhi Bank stated that the sukuk announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sustainable sukuk.

The bank will announce any other relevant developments in due course as required by the relevant rules and regulations.

The sustainable sukuk will be listed on the London Stock Exchange's International Securities Market and may be sold under Regulation S of the US Securities Act of 1933, as amended.

The offering end date, as mentioned above, is an expected date and is subject to market conditions.

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