Alinma Bank raised around SAR 5 billion from the issuance of Tier 1 sukuk at a final price of nearly 4%, CNBC Arabia reported, citing a document.
On June 10, Alinma Bank announced the start of issuance of SAR-denominated additional Tier 1 sukuk through private placement, according to data compiled by Argaam.
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Issuance Details |
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Issuance Type |
Additional Tier 1 SAR-denominated sukuk |
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Issuance Value |
To be determined based on market conditions. |
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Start Date |
June 10, 2021 |
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End Date |
July 8, 2021 |
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Target Class |
Sophisticated investors as per Article 9 of the Rules on the Offer of Securities and Continuing Obligations. |
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Minimum Subscription Value |
SAR 1 mln |
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Offer Price (Sukuk/Bonds) |
Subject to market conditions |
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Par Value |
SAR 1 mln |
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Return (Sukuk/Bonds) |
Subject to market conditions |
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Maturity period (Sukuk/Bonds) |
Perpetual (without due date) |
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Terms of Redemption |
The sukuk may be redeemed early due to a capital event, tax event or at the option of the bank as described in the terms and conditions of the sukuk. |
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Lead Managers |
Alinma Investment Co. and JP Morgan Saudi Arabia as joint lead managers and joint bookrunners for the potential private placement offer |
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