Arab Bank plc, CALYON, Gulf International Bank B.S.C., Malayan Banking Berhad, Standard Chartered Bank and WestLB AG, London Branch (together the “Mandated Lead Arrangers”) are pleased to announce that they have been mandated to arrange a 3-year US$ 300,000,000 Syndicated Fixed-Rate Murabaha Financing Facility (the “Facility”) in favor of Al Rajhi Banking and Investment Corporation (“Al Rajhi”). CALYON has acted as Financial Advisor to Al Rajhi for the Facility.
This will be Al Rajhi’s debut international syndicated financing. The Facility will be used for general funding purposes.
About Al Rajhi
Al Rajhi is a fully Shari’a compliant bank based in the Kingdom of Saudi Arabia providing wholesale, retail and commercial banking products and services in addition to investment banking.
Al Rajhi is rated A- by S&P and by Capital Intelligence, Baa2 (Outlook Positive) by Moody’s and BBB+ (Revision Outlook Positive) by Fitch.
Al Rajhi is the largest Islamic bank in the world, with total assets at 30 September 2005 of US$23.6bn and shareholders equity of US$ 2.9bn. It is the largest listed bank in the Kingdom of Saudi Arabia (KSA) and third largest listed institution in the GCC with a market cap of over US$ 40bn. Al Rajhi is the third largest bank in KSA in terms of assets.
The bank reported an exceptionally strong set of 3rd quarter 2005 results, with profits after tax increasing 82% to US$ 1,038mn.
Al Rajhi has the largest branch network (more than 400 branches) distributed throughout the Kingdom, the largest ATM network (1300 machines), over 8000 POS installed with merchants throughout the Kingdom and the largest customer base with more than two million clients.
