ALRAJHI Announces Plan to Issue US Dollar Denominated Additional Tier 1 Sukuk

Al Rajhi Bank (the “Bank”) announced on Monday its intention to issue U.S. dollar denominated additional tier 1 capital sustainable sukuk (the “Sukuk”) under its international additional tier 1 capital sukuk programme on April 18, 2024, based on the Board of Directors resolution.

The Bank expected in a statement on “Tadawul” that the Sukuk will be issued through a special purpose company, and offered to qualified investors inside and outside the Kingdom.

The Bank explained that he has appointed the following subscription managers and subscription book managers in relation to the potential offering: Al Rajhi Capital Company, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Dubai Islamic Bank PJSC, Emirates NBD P.J.S.C., Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, Mashreq Bank psc (through its Islamic Banking Division), Morgan Stanley & Co. International plc, MUFG Securities EMEA plc, SMBC Bank International plc, and Standard Chartered Bank.