Al Rajhi Bank Announces Offer Completion of Sukuk for SR6.5 mln

Al Rajhi Bank announced on Monday that it has completed the offer of the Sukuk and the settlement of the Sukuk issuance will be on 23.01.2022.

The Bank said on statement on Tadawul on Monday that the total number of (Bonds/Sukuk) is 6,500 (based on the minimum denomination and total issue size). The par value (Bonds/Sukuk) is SR 1,000,000. The return (Bonds/Sukuk) is 3.5% per annum fixed rate payable quarterly from (including) the issue date to (but excluding) 23.01.2027 (the “Reset Date”). The return rate shall thereafter reset on the Reset Date.

The Bank added The Sukuk may be redeemed by the Bank in certain cases as detailed in the offering circular in relation to the Sukuk.

It also added that this announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk.

The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.

This comes with reference to the announcement made by Al Rajhi Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 30/05/1443H (corresponding to 03/01/2022G), relating to the commencement of the Bank’s offer of a Saudi Riyal denominated Tier 1 sukuk (the “Sukuk”) by way of a private placement in the Kingdom of Saudi Arabia,

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate, the Bank concluded.