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Al-Rajhi launches second sukuk tranche in dollars
Al Rajhi Foundation announced the initial issuance of sukuk from the second social tranche, denominated in U.S. dollars. The offering will last for two days, with the final value and offering terms to be determined later based on market conditions. The minimum subscription amount is $200,000. The maturity period is 10.5 years, with the option to redeem after 5.25 years, and the yield and issuance price will be set later according to market mechanisms. A broad alliance of local and international financial institutions has been appointed as underwriters, opening the opportunity for foreign investors to participate, as the sukuk can be sold under the U.S. regulation "Regulation S."
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