Al Rajhi Bank announces its intention to issue U.S. dollar denominated tier 2 social trust certificates under its international trust certificate issuance programme
| Element List | Explanation |
|---|---|
| Introduction | Al Rajhi Bank (the “Bank”) announces its intention to issue U.S. dollar denominated tier 2 social trust certificates (the “Trust Certificates”) under its international trust certificate issuance programme updated by it on 29 May 2025, based on its Board of Directors resolutions dated 11/05/1443H (corresponding to 15/12/2021G) and 27/12/1446H (corresponding to 23/06/2025G).
The issuance is expected to be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally (the “Proposed Offer”).
The Bank has mandated Al Rajhi Capital Company, Crédit Agricole Corporate and Investment Bank, Citigroup Global Markets Limited, DBS Bank Ltd., Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, MUFG Securities EMEA plc, Natixis, Nomura International plc and Standard Chartered Bank as Joint Lead Managers & Bookrunners in relation to the Proposed Offer. |
| Offer Type | U.S. DOLLAR DENOMINATED TIER 2 SOCIAL TRUST CERTIFICATES |
| Date of the board’s decision | 2021-12-15 Corresponding to 1443-05-11 |
| Value of the offer | The amount and terms of offer of the Sukuk will be determined subject to the market conditions. |
| The Purpose of the offer | To fulfill the Bank’s financial and strategic objectives in accordance with the Bank’s Sustainable Finance Framework. |
| Approvals | The offer of the Sukuk will be subject to the approval of the relevant regulatory authorities, and will be made in compliance with applicable laws and regulations. |
| 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. |
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