ALRAJHI Announces Launch of Dollar Denominated Additional Capital Sukuk

Al Rajhi Bank (the “Bank”) announced on Tuesday the launch of the offering of U.S. dollar denominated additional tier 1 capital sustainable sukuk (the “Sukuk”) under its international programme for additional capital sukuk from the first tier, explaining that the nominal value of the sukuk is $200,000.

The Bank explained that the minimum subscription is $200,000 in increments of $1,000, and the maturity duration of the sukuk will be perpetual and may be redeemed after 5 years, in certain cases as detailed in the offering document related to the sukuk.

According to the announcement published on “Tadawul”, the offering duration for qualified investors inside and outside the Kingdom of Saudi Arabia begins on January 14, 2025, and ends on January 15, 2025.

The Bank has appointed: Al Rajhi Capital Company, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Dubai Islamic Bank PJSC, Emirates NBD Bank P.J.S.C., Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, Mashreqbank psc (acting through its Islamic Banking Division), Morgan Stanley & Co. International plc, MUFG Securities EMEA plc, SMBC Bank International plc and Standard Chartered Bank as Joint Lead Managers & Bookrunners.

The Bank confirmed that the sukuk will be listed on the London Stock Exchange’s International Financial Market, and can be sold under Regulation S of the U.S. Securities Act of 1933, as amended.