Bank Albilad eyes new capital sukuk issue under $2B program

One of Bank Albilad branches

Bank Albilad plans to issue Additional Tier 1 (AT1) capital sukuk denominated in US dollars through a private placement in Saudi Arabia and internationally under its $2 billion AT1 sukuk program.

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HSBC, Albilad Investment Co., Goldman Sachs International, and Emirates NBD were named issuance managers for the potential offering, the bank said in a statement to Tadawul today, May 13.

The value and terms of the sukuk offering will be determined at a later date, based on prevailing market conditions.

The primary objective of the offering is to enhance and support its capital base, thereby enabling the bank to achieve its long-term strategic goals.

The potential offering is subject to the approval of relevant regulatory authorities and will comply with applicable laws and regulations.

The bank’s board of directors approved the offering on March 4, 2025.