ALRAJHI Concludes Issuance of Perpetual Dollar Denominated Sukuk

Al Rajhi Bank (the “Bank”) announced on Wednesday the end of the issuance of perpetual U.S. dollar denominated additional tier 1 capital sukuk under its international programme for additional tier 1 capital sukuk.

The Bank explained in a statement on “Tadawul” that the value of the offering is USD 1,500,000,000, and the total number of sukuk is 7,500 (based on the minimum denomination and total issue size), and the nominal value is $200,000.

It indicated that the term of the sukuk is perpetual, and it may be redeemed after 5 years, and the return is 6.250% per year. The Bank noted that the sukuk may be redeemed in certain cases as detailed in the offering document related to the sukuk.

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