‎Al Rajhi Bank completes Tier 1, SAR-denominated Sukuk subscription

‎Al Rajhi Bank completes Tier 1, SAR-denominated Sukuk subscription

Al Rajhi bank announced in a statement to Tadawul that it completed offering and subscription of the first tranche of SAR-denominated Tier 1 Sukuk.

The rate of return will be reset on Nov. 16, 2022, and the rate of return will then be reset every five years following the first reset date, as set out in the applicable final terms.

The sukuk allocation will be completed by end of Nov. 13, and the settlement of the Sukuk will take place on Nov. 16. Surplus refund will be implemented for eligible investors on Nov. 16, and refunds will be deposited in the accounts of the eligible shareholders accordingly. The Sukuk then

will be listed and begin trading on the Saudi Exchange (Tadawul).