Riyadh – Mubasher: Al Rajhi Bank has concluded the issuance of $1 billion USD-denominated Shari’ah-compliant sustainable Sukuk.
A total of 5,000 sukuk were sold for $200,000 per each, according to a bourse filing.
The sukuk have a maturity of five years at an annual yield of 5.047%. They are set to be settled on 12 March 2024.
Earlier this week, Al Rajhi Bank announced plans to issue USD-denominated sukuk to fulfil its financial and strategic objectives under its sustainable finance framework.
Al Rajhi Bank logged a net profit of SAR 16.62 billion in 2023, down 3.09% year-on-year (YoY) from SAR 17.15 billion.
