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Saudi Arabia’s Al Rajhi Bank, rated Aa3/A/A− (Moody’s/S&P/Fitch), plans to issue a US dollar-denominated Tier 2 social sukuk, which will come under its international trust certificate issuance programme.
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, JP Morgan Securities plc, MUFG Securities EMEA, Natixis, Nomura International, and Standard Chartered Bank as Joint Lead Managers and Bookrunners in the proposed offer.
In May, Saudi Arabia’s capital market regulator approved Al Rajhi Bank’s programme to offer debt instruments of a total value of 10 billion riyals ($2.66 billion).
(Writing by Bindu Rai, editing by Seban Scaria)
