Alinma Bank launches USD-denominated AT-1 sukuk issue

Logo of Alinma Bank

Alinma Bank started to issue perpetual, USD-denominated Additional Tier 1 (AT-1) capital sukuk through a special purpose vehicle and by way of an offer to eligible investors in Saudi Arabia and internationally.

 

The amount and terms of offer of the capital certificates will be determined based on market conditions, the bank said in a statement to Tadawul.

 

Offering Details

Issuance Type

Perpetual, dollar-denominated AT-1 capital sukuk, under the AT-1 capital sukuk program

Offering Value

To be determined based on market conditions

Issue Start Date

May 20, 2026

Issue End Date

May 21, 2026

The Targeted Class of Investors

Eligible investors in the Kingdom and internationally

Issuance Manager

Abu Dhabi Islamic Bank (ADIB), Alinma Capital, Arqaam Capital, ASB Capital, Citigroup, DBS, Emirates NBD, First Abu Dhabi Bank , Goldman Sachs, J.P. Morgan, Mashreqbank (via its Islamic banking), Standard Chartered, Warba Bank mandated as lead managers.

Minimum Subscription

$200,000 and in increments of $1,000 in excess thereof

Return

Subject to market conditions

Maturity 

Perpetual, callable after 5.5 years

Terms of Redemption

The certificates may be redeemed in certain cases as detailed in the Offering Circular in relation to the AT-1 Capital Certificate Issuance Program
 

The bank stated that this announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sustainable Additional Tier 1 Capital Certificates.

 

Any other relevant material developments will be announced to shareholders in due course, the statement added.

 

The certificates will be listed on the International Securities Market of the London Stock Exchange plc. The certificates may only be sold in reliance on Regulation S under the Securities Act of 1933, as amended.

 

The issue end date referred to above is the expected date of the end of the offering, subject to market conditions, the bank further indicated.

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