alrajhi bank offers U.S. dollar denominated sustainable Sukuk

alrajhi bank (the “Bank”) announced on Tuesday that it will start offering U.S. dollar-denominated sustainable Sukuk today under its international sukuk programme. The amount and terms of the offer will be determined subject to market conditions and will continue until tomorrow, Wednesday.

The Bank said today on Tadawul that the targeted class of the issuance for eligible investors in the Kingdom of Saudi Arabia and internationally.

The Bank explained that the minimum subscription is USD 200,000 and in increments of USD 1,000 in excess thereof. The offering price (Sukuk /Bonds) and the return (Sukuk /Bonds) will be determined subject to market conditions. The nominal value is USD 200,000, and the maturity period of the Sukuk /Bonds is five years.

The Bank has mandated Al Rajhi Capital Company, Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Citigroup Global Markets Limited, Dubai Islamic Bank P.J.S.C., Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Goldman Sachs International, HSBC Bank plc, KFH Capital Investment Company K.S.C.C., SMBC Capital Markets Limited, Société Générale and Standard Chartered Bank as Joint Lead Managers & Bookrunners in relation to the proposed offer.

The sustainable Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the sustainable Sukuk.

This comes with reference to the announcement from alrajhi bank (the “Bank”) published on the website of the Saudi Exchange on 04/03/2024 regarding its intention to issue U.S. dollar denominated sustainable Sukuk (the “Sukuk”) through a special purpose vehicle and offering it to eligible investors in the Kingdom of Saudi Arabia and internationally.

Additional Information:

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

The sustainable Sukuk will be listed on the London Stock Exchange’s International Securities Market. The sustainable Sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.

In addition, the Offering End Date referred to above is the expected date of the end of the offering, subject to market conditions.