Logo of Al Rajhi Bank
Al Rajhi Bank announced today, Jan. 3, the commencement of the offer of its SAR-denominated Tier 1 Sukuk by way of a private placement in Saudi Arabia.
The bank said in a bourse filing that the amount and terms of offer of the Sukuk will be determined subject to the market conditions.
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Sukuk Details |
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Offer type |
SAR denominated Tier 1 Sukuk |
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Value of offer |
The amount and terms of offer will be determined subject to market conditions |
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Start date |
Jan. 3, 2022 |
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End date |
Jan. 26, 2022 |
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Target class |
Institutional and qualified investors in accordance with the Capital Market Authority Rules on the offer of securities and continuing obligations |
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Minimum subscription |
SAR 1 mln |
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Offer price |
Subject to market conditions |
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Par value |
SAR 1 mln |
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Return |
Subject to market conditions |
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Maturity |
Perpetual |
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Terms of redemption |
The Sukuk may be redeemed by the bank in certain cases as detailed in the offering circular in relation to the Sukuk |
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Issuance manager |
Al Rajhi Capital as the sole lead manager and bookrunner |
The offering of Sukuk will be limited to institutional or qualified clients. Accordingly, the Sukuk may only be offered and sold in the Kingdom in accordance with Article 8 of the Rules of the Offer of Securities and Continuing Obligations.
The issuing end date referred to above is the expected date of the end of the offering, subject to market conditions.
The bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.
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