Raya Financing sukuk yield set at 8.5%

Subscription period for sukuk public offering to be announced

Raya Financing Co. set the yield on its first sukuk issuance at 8.5% per annum, payable on a quarterly basis, according to its financial advisor and sole arranger, impact46.

In a statement to Tadawul, impact46 said the subscription period for the public offering of the first sukuk issuance will be announced at a later date.

According to data available with Argaam, Raya Financing issued a prospectus for its additional Tier 1 (AT1) capital sukuk program, with a nominal value of SAR 500 million, to be issued through a program comprising multiple tranches.