The Clap
Al Rajhi Capital, the financial advisor and subscription manager for the first tranche offering of Al Rajhi Bank (1120) Sukuk, completed the offering process and the successful settlement of the Sukuk.
What
According to the company, 100% of the applications were allocated to individual subscribers, as the number of participants exceeded 125,000.
The value of the offering was SAR 10 billion with 10 million checks.
So What
Al Rajhi Capital indicated that the Sukuk yield is 5.50% fixed annually, to be paid on a quarterly basis starting from the 16th of November.
The Sukuk also has no maturity date.
The Sukuk will be listed and traded in “Tadawul” after depositing them in the investment portfolios and completing the necessary legal procedures.
Now What
Al Rajhi Capital is one of the largest financial advisors in the debt markets, ranked first in the world in Sukuk issuance, according to Bloomberg.
