Logo of Al Rajhi Bank

Al Rajhi Bank announced today, Jan. 3, the commencement of the offer of its SAR-denominated Tier 1 Sukuk by way of a private placement in Saudi Arabia.

 

The bank said in a bourse filing that the amount and terms of offer of the Sukuk will be determined subject to the market conditions.

 

Sukuk Details

Offer type

SAR denominated Tier 1 Sukuk

Value of offer

The amount and terms of offer will be determined subject to market conditions

Start date

Jan. 3, 2022

End date

Jan. 26, 2022

Target class

Institutional and qualified investors in accordance with the Capital Market Authority Rules on the offer of securities and continuing obligations

Minimum subscription

SAR 1 mln

Offer price

Subject to market conditions

Par value

SAR 1 mln

Return

Subject to market conditions

Maturity

Perpetual

Terms of redemption

The Sukuk may be redeemed by the bank in certain cases as detailed in the offering circular in relation to the Sukuk

Issuance manager

Al Rajhi Capital as the sole lead manager and bookrunner

 

The offering of Sukuk will be limited to institutional or qualified clients. Accordingly, the Sukuk may only be offered and sold in the Kingdom in accordance with Article 8 of the Rules of the Offer of Securities and Continuing Obligations.

 

The issuing end date referred to above is the expected date of the end of the offering, subject to market conditions.

 

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

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