Al Rajhi Bank Tower
Al Rajhi Bank plans to issue USD-denominated additional Tier 1 sustainable sukuk under its international Additional Tier 1 Capital Sukuk Program, established by the bank on April 18, 2024. 
The bank stated in a filing on Tadawul that the sukuk issuance is expected to be conducted through a special purpose vehicle (SPV) and will be offered to qualified investors both domestically and internationally.
The bank appointed 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 joint lead managers and bookrunners to the proposed offer.
The value and terms of the sukuk offering will be determined based on market conditions, the bank noted, adding that the purpose of the issuance is to strengthen its Tier 1 capital and will be used in general banking purposes and to fulfill the bank’s financial and strategic objectives in accordance with its Sustainable Finance Framework.
The offering, subject to approval from the relevant regulatory authorities, will be executed in compliance with applicable laws and regulations.
The bank will disclose any significant developments as they occur, adhering to the relevant regulations, the statement added.
Al Rajhi Bank Tower
Al Rajhi Bank plans to issue USD-denominated additional Tier 1 sustainable sukuk under its international Additional Tier 1 Capital Sukuk Program, established by the bank on April 18, 2024.
The bank stated in a filing on Tadawul that the sukuk issuance is expected to be conducted through a special purpose vehicle (SPV) and will be offered to qualified investors both domestically and internationally.
The bank appointed 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 joint lead managers and bookrunners to the proposed offer.
The value and terms of the sukuk offering will be determined based on market conditions, the bank noted, adding that the purpose of the issuance is to strengthen its Tier 1 capital and will be used in general banking purposes and to fulfill the bank’s financial and strategic objectives in accordance with its Sustainable Finance Framework.
The offering, subject to approval from the relevant regulatory authorities, will be executed in compliance with applicable laws and regulations.
The bank will disclose any significant developments as they occur, adhering to the relevant regulations, the statement added.
