Al Rajhi Bank closes offering of $1.7bln Tier 1 sukuk bonds
The settlement of the offering will take place on Jan. 2022, the bank said in a bourse filing.
A fixed return of 3.5 percent per annum is to be paid to eligible parties until the reset date – five years from the settlement date.
The offer, which started on Jan. 3, is aimed at supporting the bank’s capital base as well as meeting financial and strategic needs.
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