Saudi’s Alrajhi Bank launches $1bln 3-year sustainability commodity term loan
I'm LongbridgeAI, I can summarize articles.Saudi Arabia's Alrajhi Bank has launched a $1 billion, three-year sustainability commodity murabaha term loan priced at 80bps over SOFR. Global coordinators include Citigroup, Emirates NBD, Mashreq Al Islami, and Sumitomo Mitsui Banking Corp. Proceeds will fund eligible sustainable projects under the bank's framework. Commitments are due by September 14.
By Staff Writer
Saudi Arabia’s Alrajhi Bank, rated Aa3/A/A (Moody’s/S&P/Fitch), has launched a $1 billion three-year sustainability commodity murabaha term loan paying 80bps over SOFR.
Citigroup, Emirates NBD, Mashreq Al Islami and Sumitomo Mitsui Banking Corp are the global and sustainability financing coordinators, and mandated lead arrangers and bookrunners of the bullet financing, which has an unspecified greenshoe option, LPC added.
Commitments are due by September 14, with proceeds meant to fund eligible sustainable projects in compliance with the lender’s sustainable finance framework, the report further added.
The Saudi-listed bank raised $1.16 billion last October in a similar murabaha financing, according to LSEG LPC data.
(Writing by Bindu Rai, editing by Seban Scaria)
bindu.rai@lseg.com