Today, Thursday, Al-Rajhi Bank announced the end of issuing sustainable US dollar-denominated sukuk under its international sukuk programme.
The bank said in a statement on “Tadawul Saudi Arabia”, that the value of the issue amounted to one billion dollars, with 5 thousand instruments, based on the minimum category and the total size of the issue.
The nominal value of the sukuk was $200, the annual yield is 4.75%, and the sukuk’s maturity period is 5 years.
The sustainable sukuk may be redeemed early before its maturity period in certain cases specified in the offering documents of the sustainable sukuk.
It is noteworthy that the sustainable sukuk will be listed on the international financial market of the London Stock Exchange, and may be sold under Regulation S of the US Securities Act, as amended.
It was a document to offer the first sustainable dollar-denominated sukuk for Al-Rajhi Bank, which showed that requests exceeded more than $ 3.5 billion for the offering.
The bank reduced the indicative price of the sukuk by thirty basis points to about 120 basis points above the prices of US Treasury bills.