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Saudi Arabia's Al Rajhi Bank is set to raise $1 billion with five-year sustainable Islamic bonds, a document from one of the banks arranging the deal showed on Wednesday.
The spread on the sukuk was set at 110 basis points (bps) over U.S. Treasuries (UST), tightened from initial price guidance of around 150 bps over UST after demand topped $3.75 billion, the document showed.
Al Rajhi Capital, Citi, Emirates NBD Capital, Goldman Sachs, HSBC, JPMorgan, KFH Capital and Standard Chartered are joint lead managers and bookrunners for the debt sale.
(Reporting by Yousef Saba; Editing by Mark Potter)