Al Rajhi Bank headquarters
Al Rajhi Bank competed today, March 30, the issuance of $1 billion sustainable sukuk, the bank said in a statement to Tadawul.
The sukuk issue will be settled on April 5, 2023.
The table provides the details of the sukuk issue:
|
Sukuk Details |
|
|
Offer Type |
US dollar-denominated senior unsecured sustainable sukuk |
|
Offer Value |
$1 bln |
|
Number of Sukuk |
5,000 (based on the minimum denomination and total issue size) |
|
Par Value |
$200,000 |
|
Sukuk Yield |
4.75% annually |
|
Maturity |
5 years |
|
Terms of Redemption |
The sustainable sukuk may be redeemed before the maturity date in certain cases as detailed in the sukuk offering circular |
The sukuk will be listed on London Stock Exchange's International Securities Market, the bank said, adding that the sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.
Al Rajhi Bank launched, on March 29, a US dollar-denominated sustainable sukuk under its international sukuk program, according to data compiled by Argaam.
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