Al Rajhi Bank completes $600m Tier 2 social sukuk offering 

RIYADH: Al Rajhi Bank has completed a $600 million Tier 2 social sukuk offering, with the 10.5-year certificates carrying an annual return of 6.23 percent. Settlement is scheduled for Sept. 10, according to the bank’s Saudi Exchange filing. The latest offering comprises 3,000 trust certificates, each with a par value of $200,000. The instruments are callable after 5.25 years. The transaction marks the Saudi lender’s second international Tier 2 social sukuk issuance, following a $1 billion off

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