Al Rajhi Bank’s latest fundraising blends scale with innovation, setting several Islamic finance records.
In June 2024, the Saudi lender invited roughly 80 international banks – excluding domestic institutions – to join a three-year, dual-tranche sustainability commodity Murabaha facility. The financing delivered tight pricing, and bookrunners drew commitments so strong that the deal swelled from an initial $750 million to $1.921 billion after an extra $1.171 billion was pledged.
An accordion option is poised to lift the figure beyond the $2 billion threshold, making this the largest Islamic sustainable financing ever arranged for a financial institution and the biggest syndicated loan for any Saudi bank.
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