Al Rajhi Bank — Saudi Arabia's second-largest lender by assets — has raised USD 1 bn from its five-year USD-denominated sustainable sukuk issuance, according to a disclosure to Tadawul on Thursday. The bank issued 5k bonds at a par value of USD 200k, with the sukuk carrying a yield of 4.75% per annum, the disclosure notes. The sukuk will be listed on the London Stock Exchange’s International Securities Market, with the settlement of the issuance set on Wednesday, 5 April.

Advisors: Al Rajhi Capital Company, Citigroup, Emirates NBD Bank, Goldman Sachs, HSBC, JPMorgan Securities, KFH Capital, and Standard Chartered Bank were appointed as joint lead managers and bookrunners for the issuance.