Al Rajhi Bank plans to issue USD-denominated Tier 2 social sukuk

Sukuk issue falls under Al Rajhi Bank’s international trust certificate issuance program

Al Rajhi Bank plans to issue USD-denominated Tier 2 social sukuk under its updated international sukuk issuance program, launched on May 29, 2025, in line with the board’s decisions.

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In a statement to Tadawul, the bank said the value and terms of the sukuk offering will be determined based on market conditions.

The sukuk are expected to be issued through a special purpose vehicle (SPV) and offered to qualified investors inside and outside Saudi Arabia.

Al Rajhi Bank appointed Al Rajhi Capital, Crédit Agricole, Citigroup Global Markets, DBS Bank, Goldman Sachs International, HSBC Bank, JP Morgan Securities, MUFG Securities EMEA, Natixis, Nomura International, and Standard Chartered Bank as joint lead managers and bookrunners for the potential offering.

According to the statement, the planned issuance aims to support the bank’s financial and strategic objectives in line with its sustainable finance framework.

The offering remains subject to approval from relevant regulatory authorities and will proceed in accordance with applicable rules and regulations.

Al Rajhi Bank also emphasized that this announcement does not constitute an invitation or an offer to purchase, acquire, or subscribe to any securities and is subject to the sukuk’s terms and conditions.

Any material developments will be disclosed in due course, in line with applicable laws and regulations, the statement added.