Al Rajhi Bank completes issuing $1B Sukuk

Al Rajhi Bank completed the issuance of USD-denominated additional tier-1 capital sukuk, totaling $1 billion.

In a statement to Tadawul, the bank said the total number of sukuk is 5,000 (based on the minimum denomination and total issue volume), with each sukuk having a nominal value of $200,000.

The settlement date for the sukuk issuance is scheduled for May 16, 2024, the statement added.