alrajhi bank Plans Dollar-Denominated Additional Tier 1 Sukuk Issuance

alrajhi bank announced on Tuesday that it intends to issue social Additional Tier 1 capital sukuk denominated in U.S. dollars under its international AT1 Sukuk Programme established on April 18, 2024, pursuant to a Board Resolution dated March 25, 2024.

According to the bank statement on Tadawul, the sukuk are expected to be issued through a special purpose vehicle and offered to qualified investors inside and outside Saudi Arabia.

alrajhi bank added that it has mandated Al Rajhi Capital, Goldman Sachs International, HSBC, Morgan Stanley, Standard Chartered, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq, Nomura and Rabeh as joint lead managers, with Aven Bank appointed as Co-Manager, in connection with the Potential Offering.