Saudi Arabia’s Al Rajhi Bank has raised $1 billion with five-year sustainable Islamic bonds (sukuk).
The US dollar denominated senior unsecured sustainable sukuk has a yield of 4.75% per annum, the lender said in a regulatory disclosure on Tadawul on Thursday.
The bank issued 5,000 bonds at par value of $200,000.
The issuance will meet the bank’s financial and strategic objectives as per its Sustainable Finance Framework.
Al Rajhi Capital, Citi, Emirates NBD Capital, Goldman Sachs, HSBC, JPMorgan, KFH Capital and Standard Chartered are joint lead managers and bookrunners for the bond sale.