Logo of Al Rajhi Bank
Al Rajhi Bank completed its $1 billion worth of sustainable sukuk offering under its international sukuk issuance program.
The sustainable sukuk will be settled on March 12, the bank said in a statement to Tadawul.
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Offer Details |
|
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Offer Type |
Dollar-denominated sustainable sukuk |
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Issuance Value |
$1 billion |
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Total No. of sukuk |
5,000 (based on the category’s minimum limit and total issuance size) |
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Nominal Value |
$200,000 |
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Return |
5.047% annually |
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Maturity Period |
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 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 bank commenced on March 5 its US dollar-denominated sustainable sukuk offering, Argaam reported. The final value and offering terms will be determined based on market conditions.
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