Al Rajhi Bank concludes $1bn USD-denominated sukuk

Al Rajhi Bank concludes $1bn USD-denominated sukuk

Riyadh – Mubasher: Al Rajhi Bank has completed the issuance of $1 billion USD-denominated additional tier 1 capital sustainable sukuk. A total of 5,000 sukuk were sold for $200,000 per each, according to a bourse filing. The sukuk have no fixed maturity, but they are redeemable after five years. With a yield of 6.375%, the sukuk are set to be settled on 16 May 2024. In March, Al Rajhi Bank issued $1 billion USD-denominated Shari’ah-compliant sustainable sukuk. The Tadawul-listed bank recorded SAR 4.40 billion in net profit during the first quarter (Q1) of 2024, up 6.27% year-on-year (YoY) from SAR 4.14 billion.

Al Rajhi Bank concludes $1bn USD-denominated sukuk