Alinma Bank completes two SAR, USD sukuk offerings

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Alinma Bank said it completed its USD-denominated perpetual Additional Tier 1 (AT 1) Capital Sukuk issuance under its AT 1 Capital Sukuk Program.

 

The sukuk issuance is expected to be settled on June 3, 2026.

 

Offering Details

Type of Issue

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

Offering Value

$500 million

Number of Sukuk

2500

Nominal Value/ SAK

$200,000

Return/ Sak

6.625% per annum

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 sukuk will be listed on London Stock Exchange (LSE); the sukuk may only be sold in accordance with Regulation S under the US Securities Act of 1933, as amended.

 

In a separate statement to Tadawul, the bank said it completed offering SAR-denominated Additional Tier 1 Capital Sukuk worth SAR 3 billion under its Additional Tier 1 Capital Sukuk Program.

 

Details

Type of Issue

SAR-denominated Additional Tier 1 Capital Sukuk under the program.

Offering Value

SAR 3 billion

Number of Sukuk

3,000 sukuk, based on the minimum denomination and total issue size.

Nominal Value/ Sak

SAR 1 million

Return/Sak

6.5% per annum.

Maturity

Perpetual sukuk with no fixed maturity date.

Terms of Redemption

The sukuk may be redeemed in certain cases, as detailed in the offering document related to the program.

 

According to data compiled by Argaam, Alinma Bank began earlier this month the offering of SAR-denominated Additional Tier 1 Capital Sukuk under its Additional Tier 1 Capital Sukuk Program, valued at SAR 5 billion.

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