NEWS: Saudi Al Rajhi Bank launches $500mln 5-year sukuk at T+95bps

-2.05%

-0.12%

-0.29%

ALRAJHI

1120.SA

95.60

-2.05%

ALBILAD SOVEREIGN SUKUK ETF

9403.SA

8.49

-0.12%

ALINMA GOVERNMENT SUKUK ETF

9404.SA

10.43

-0.29%

Staff Writer

Al Rajhi Banking and Investment Corp. has launched a USD-denominated $500 million five-year sukuk offering, with spread set at Treasuries plus 95 basis points, tightened from initial price thoughts (IPTs) in the T+125 area.

The order book hit $1.20 billion, excluding joint lead manager demand.

Proceeds from the senior, unsecured wakala sukuk will be used for general corporate purposes.

Al Rajhi Sukuk Ltd. is the issuer and trustee, while Al Rajhi Bank is the obligor.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.