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Logo of Alinma Bank
Alinma Bank completed the issuance of additional Tier 1 (AT1) sukuk worth $500 million.
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In a statement to Tadawul, the bank said the sukuk will be settled on May 28, 2025.
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Details |
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Offer Type |
US dollar-denominated AT1 sukuk under its AT1 Capital Note Programme |
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Offer Value |
$500 mln |
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Target Categories |
Qualified investors inside and outside Saudi Arabia |
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Agents |
Abu Dhabi Islamic Bank, Alinma Investment, Emirates NBD, Goldman Sachs International, J.P. Morgan Securities, and Standard Chartered Bank as joint lead managers |
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Total No. of Sukuk |
2,500 (based on minimum denomination and total issue size) |
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Nominal Value |
$200,000 |
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Return |
6.50% annually |
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Maturity |
Perpetual, callable after 5.5 years |
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Terms of Redemption |
Sukuk may be redeemed prior to the maturity date under specific conditions outlined in the Base Offering Circular in relation to the Additional Tier 1 Capital Note Programme |
The sukuk will be listed on the London Stock Exchange's International Securities Market (ISM).
The sale of the sukuk is permissible only in accordance with Regulation S of the US Securities Act of 1933, as amended.
According to data available on Argaam, the bank started the sukuk sale on May 20.
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