Saudi Arabia’s Al Rajhi Bank has truly began supplying its AT1 assets lasting 6-year steady non-call mudaraba sukuk to Saudi and worldwide capitalists.
The preliminary charge concepts (IPTs) stay within the 6.750% location.
Al Rajhi Bank has truly mandated Al Rajhi Capital, Citigroup Global Markets, Cr édit Agricole Corporate and Investment Bank, Dubai Islamic Bank, Emirates NBD Bank, Goldman Sachs International, HSBC Bank, J.P. Morgan Securities, Mashreqbank (performing with its Islamic Banking Division), Morgan Stanley & &Co plc, MUFG Securities EMEA, SMBC Bank International and Standard Chartered Bank as joint lead supervisors and bookrunners.
Books for the muradaba sukuk are presently over $2.7 billion, leaving out joint lead supervisor charge of curiosity.
The United States dollar-denominated AT1 lasting sukuk is the present in a $5 billion belief fund certification issuance program by Al Rajhi Bank, with an obliger rating of Aa3 Stable (Moody’s)/ A- Positive (S&P)/ A- Stable (Fitch).
The sukuk will definitely be famous on the London Stock Exchange’s International Securities Market.
(Writing by Bindu Rai, modifying by Seban Scaria)
bindu.rai@lseg.com
