News & Announcements

ALRAJHI

09 May, 2024 09:04

Al Rajhi Bank announces the commencement of the offer of its U.S. dollar denominated additional tier 1 capital sustainable sukuk under its international additional tier 1 capital Sukuk programme

Element List	Explanation
Introduction	With reference to the announcement from Al Rajhi Bank (the “Bank”) published on the website of the Saudi Exchange on 29/10/1445H (corresponding to 08/05/2024G) regarding its intention to issue U.S. dollar denominated additional tier 1 capital sustainable sukuk (the “Sukuk”) through a special purpose vehicle and offering it to eligible investors in the Kingdom of Saudi Arabia and internationally, the Bank would like to announce the commencement of the offer of the Sukuk.
Offer Type	U.S. dollar denominated additional tier 1 capital sustainable sukuk.
Value of the offer	The amount and terms of offer of the Sukuk will be determined subject to the market conditions.
Offering start Date	2024-05-09 Corresponding to 1445-11-01
Offering end Date	2024-05-10 Corresponding to 1445-11-02
The targeted class of the issuance	Eligible investors in the Kingdom of Saudi Arabia and internationally.
Name of Issuance Manager	The Bank has mandated Al Rajhi Capital Company, Citigroup Global Markets Limited, Dubai Islamic Bank PJSC, Emirates NBD Bank PJSC, Goldman Sachs International, HSBC Bank plc, and Standard Chartered Bank as Joint Lead Managers & Bookrunners.
Minimum Subscription	USD 200,000 and in increments of USD 1,000 in excess thereof.
Offer Price (Sukuk /Bonds)	It is subject to market conditions.
Par Value	USD 200,000
Return (Sukuk /Bonds)	It is subject to market conditions.
Maturity (Sukuk /Bonds)	Perpetual, callable after 5 years.
Terms of Redemption	The Sukuk may be redeemed in certain cases as detailed in the offering circular in relation to the Sukuk.
Additional Information	This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations. The Sukuk will be listed on the London Stock Exchange's International Securities Market. The Sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended. The Offering End Date referred to above is the expected date of the end of the offering, subject to market conditions.

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