{"id":93448,"date":"2025-01-16T00:00:00","date_gmt":"2025-01-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/16\/al-rajhi-bank-banque-saudi-fransi-wrap-up-at1-sukuk-offerings\/"},"modified":"2025-01-16T00:00:00","modified_gmt":"2025-01-16T00:00:00","slug":"al-rajhi-bank-banque-saudi-fransi-wrap-up-at1-sukuk-offerings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/16\/al-rajhi-bank-banque-saudi-fransi-wrap-up-at1-sukuk-offerings\/","title":{"rendered":"Al Rajhi Bank + Banque Saudi Fransi wrap up AT1 sukuk offerings"},"content":{"rendered":"

A good day for sukuk: <\/strong>Al Rajhi Bank and Banque Saudi Fransi completed their additional tier 1 (AT1) USD-denominated sukuk issuances, both announced earlier this week<\/a>, totaling USD 2.25 bn.<\/p>\n

#1- <\/strong>Al Rajhi Bank closed its USD 1.5 bn sukuk <\/strong>offering yesterday<\/strong>, it said in a disclosure<\/a> to Tadawul. The offering saw 7.5k sukuk sold at a 6.25% annual return, with a USD 200k buy-in minimum. Subscriptions kicked off<\/a> on 14 January and wrapped up yesterday, with settlement scheduled for Tuesday, 21 January. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

More on the offering:<\/strong> The offering is perpetual, meaning there is no fixed maturity date. However, the sukuk are callable after five years under specific terms defined in the terms sheet. Proceeds from the sale will bolster the bank\u2019s financial base and support initiatives under its Sustainable Finance Framework. <\/p>\n

ADVISORS- <\/strong>Our friends at HSBC and Mashreq are joint lead managers and bookrunners on the transaction, along with JPMorgan Securities, Morgan Stanley, Al Rajhi Capital, Citigroup Global, Emirates NBD, Goldman Sachs, Dubai Islamic Bank, Credit Agricole, MUFG Securities EMEA, SMBC Bank International and Standard Chartered Bank.<\/p>\n

\n

IN OTHER DEBT NEWS-<\/p>\n

#2- Banque Saudi Fransi completed its USD 750 mn sukuk offering<\/strong>, it said in a disclosure<\/a>to Tadawul<\/a>. The sale consisted of 3.75k sukuk, each valued at USD 200k. The certificates have an annual return of 5.375% and a five-year tenor, but may be redeemed prior to that date under terms. Settlement took place yesterday.<\/p>\n

ADVISORS-<\/strong> Our friends at HSBC were appointed as global coordinator for the issuance, while Mashreq, Abu Dhabi Commercial Bank, Citigroup Global, Cr\u00e9dit Agricole Corporate and Investment Bank, Emirates NBD, Goldman Sachs, the Islamic Corporation for the Development of the Private Sector, Mizuho International, SMBC Bank International, and Saudi Fransi Capital were selected as joint lead managers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Subscriptions wrapped yesterday<\/p>\n","protected":false},"author":1,"featured_media":93449,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[71,77,57,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-al-rajhi-bank","tag-banque-saudi-fransi","tag-debt-watch","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"e7dd6ac9-9201-44ef-bbcb-8e6fd244a832","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1582.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Rajhi Bank + Banque Saudi Fransi wrap up AT1 sukuk offerings totaling USD 2.25 bn","related_issue":[93438],"teaser":"Subscriptions wrapped yesterday","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.8713f039-eacf-4516-8d82-d426f509584b.mp3"},"yoast_head":"\nAl Rajhi Bank + Banque Saudi Fransi wrap up AT1 sukuk offerings - 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