Al Rajhi Bank to Issue Dollar-Denominated Sukuk

Al Rajhi Bank in Saudi Arabia intends to issue sustainable Islamic bonds denominated in dollars, according to an investor presentation. The joint lead managers and bookrunners for the sukuk, which will have a maturity of five years, are Al Rajhi Capital, Citibank, Emirates NBD Capital, Goldman Sachs, HSBC, JP Morgan, KFHF Capital, and Standard Chartered. The issuance will be of a standard size, typically meaning at least $500 million. According to the presentation, the sukuk will be used to finance or refinance eligible sustainable projects benefiting from the bank's sustainable finance framework.