Al Rajhi Bank launches $1bn in perpetual bonds, says document 

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RIYADH: Al Rajhi Bank, the world’s largest Islamic bank by assets and market capitalization, has launched $1 billion in Additional Tier 1 sustainable sukuk, or Islamic bonds, a document from one of the banks arranging the deal revealed on Thursday. 

The final yield for the debt transaction was set at 6.375 percent, tighter than the initial guidance of around 6.875 percent released in a document earlier in the day. The notes are perpetual in nature and can first be redeemed in May 2029. 

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