Logo of Al Rajhi Bank
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Details |
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Offer Type |
USD-denominated AT1 capital sustainable sukuk |
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Issuance Value |
Based on market conditions |
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Start Date |
Jan 14, 2025 |
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End Date |
Jan 15, 2025 |
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Target Category |
Qualified investors inside and outside Saudi Arabia |
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Management Entities |
Al Rajhi Capital, Citigroup, Crédit Agricole, Dubai Islamic Bank, Emirates NBD, Goldman Sachs, HSBC, JP Morgan Securities, Mashreqbank (acting through its Islamic division), Morgan Stanley, MUFG, SMBC Bank and Standard Chartered as lead managers and bookrunners as lead managers and bookrunners. |
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Minimum Limit |
$200,000, with increments of $1,000 |
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Offer Price |
Based on market conditions |
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Nominal Value |
$200,000 |
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Return |
Based on market conditions |
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Maturity Period |
Perpetual sukuk, may be redeemed after 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 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.
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 offering end date mentioned above is an expected date, subject to market conditions, the statement added.
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