Al Rajhi Bank raises $1.5 billion from issuing additional capital sukuks

Al Rajhi Bank announced the completion of the offering of additional sustainable first-tier capital sukuks denominated in dollars, under its international sukuk programme.
The bank said in a statement on the Saudi Tadawul: The value of the offering is estimated at 1.5 billion dollars, while the total number of sukuks reached 7,500.
He added that the nominal value of the instrument is $200,000, while the instrument’s return is 5.260% per year.
He stated that the maturity period of the bonds is (perpetual bonds), and they may be redeemed after 5 years.
He pointed out that the instrument may be redeemed in certain cases, according to what is detailed in the offering document related to the instruments.