Al Rajhi launches USD 500 mn sukuk issuance + SNB to debut AT1 sukuk
Al Rajhi received orders worth more than USD 1.2 bn
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Al Rajhi received orders worth more than USD 1.2 bn
The agency doesn’t expect the rising external debt to “translate into significant vulnerabilities for Saudi banks”
The domestic debt capital market grew 16% y-o-y to USD 465.8 bn in 1Q
The Kingdom is expected to borrow heavily this year
The issuance was priced at 110 basis points above US treasury bonds
The three-year facility will be used for expansion and investing in the latest-generation, fuel-efficient aircraft
The five-year facility will be used to refinance the company’s outstanding debt
The issuance was divided into four tranches
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