Al Rajhi Bank has announced plans to issue USD-denominated additional tier 1 capital sustainable sukuk under its international sukuk programme.

The offering is expected to be conducted through a special purpose vehicle to Saudi Arabian and international investors, according to a bourse filing.

It is aimed at fulfilling the bank’s financial and strategic objectives.

The bank has mandated Al Rajhi Capital Company, Citigroup Global Markets Limited, Dubai Islamic Bank (DIB), Emirates NBD Bank, Goldman Sachs International, HSBC Bank, and Standard Chartered Bank as Joint lead managers and book-runners for the sukuk offering.

In March 2024, Al Rajhi Bank concluded the issuance of a $1 billion USD-denominated Shari’ah-compliant sustainable sukuk.

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