‎Al Rajhi Bank starts offer of additional tier 1 capital sukuk

Al Rajhi Bankstarted today, Jan. 14, the offer of USD-denominated additionaltier 1capitalsustainable sukuk, astatement said to Tadawul.

The sukuk issuance is conducted through a special purpose vehicle (SPV) and will be offered to qualified investors both domestically and internationally.

Details

Advertisement

Offer Type

USD-denominated additional tier-1 capital sustainable sukuk

Issuance Value

Based on market conditions

Start Date

Jan 14, 2025

End Date

Jan 15, 2025

Target Category

Qualified investors inside and outside Saudi Arabia

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.

Minimum Limit

$200,000, with increments of $1,000

Offer Price

Based on market conditions

Nominal Value

$200,000

Return

Based on market conditions

Maturity Period

Perpetual sukuk, may be redeemed after 5 years

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.

Al Rajhi Bankstarted today, Jan. 14, the offer of USD-denominated additionaltier 1capitalsustainable sukuk, astatement said to Tadawul.

The sukuk issuance is conducted through a special purpose vehicle (SPV) and will be offered to qualified investors both domestically and internationally.

Details

Offer Type

USD-denominated additional tier-1 capital sustainable sukuk

Issuance Value

Based on market conditions

Start Date

Jan 14, 2025

End Date

Jan 15, 2025

Target Category

Qualified investors inside and outside Saudi Arabia

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.

Minimum Limit

$200,000, with increments of $1,000

Offer Price

Based on market conditions

Nominal Value

$200,000

Return

Based on market conditions

Maturity Period

Perpetual sukuk, may be redeemed after 5 years

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.