SAUDI ARABIA: Al Rajhi Bank has concluded a three-year dual tranche sustainability commodity Murabahah facility with a total amount exceeding US$1 billion, a statement confirmed. The deal received participation from 13 global investors from North America, Europe, Asia and the Middle East.
The syndication was led by HSBC and SMBC International Bank as mandated lead arrangers and bookrunners. Proceeds from the facility will be used to increase Al Rajhi Bank’s liquidity levels and to finance Shariah compliant sustainable projects under the bank’s sustainable financing framework.