Alinma Bank completes $500M AT1 sukuk issuance

Alinma Bank issues $500M AT1 sukuk under its international program

Alinma Bank said it completed the issuance of USD-denominated additional Tier 1 (AT1) sustainable sukuk worth $500 million under its AT1 program, according to a statement on Tadawul.

 

Issuance details

Item

Description

Type of issuance

USD-denominated AT1 sustainable sukuk under the AT1 issuance program

Issue size

$500 mln

Total number of sukuk

2,500 sukuk (based on minimum denomination and total issuance size)

Nominal value

$200,000

Return

6.25% per annum

Maturity

Perpetual, callable after 5.5 years

Redemption conditions

The debt instruments may be redeemed prior to the scheduled record date in certain cases, as detailed in the offering circular of the AT1 issuance program

 

The bank had launched the dollar-denominated AT1 sustainable sukuk on Aug. 27, according to Argaam data.

 

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