Alinma Bank issues USD-denominated AT-1 sukuk

Logo of Alinma Bank

Alinma Bank commenced the issuance of US dollar-denominated sustainable additional Tier 1 (AT-1) sukuk, the bank said in a statement on Tadawul.

 

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The offering, which comes as part of the bank's Additional Tier 1 Capital Certificate Issuance Program, starts today, May 20, and continues until May 23.

 

Sukuk Issuance Details

Offer Type

USD-denominated sustainable AT-1 sukuk

Offer Value

To be determined as per market conditions.

Start Date

May 20, 2025

End Date

May 23, 2025

Target Class

Qualified investors locally and internationally.

Lead Manager

Abu Dhabi Islamic Bank, Alinma Capital, Emirates NBD, Goldman Sachs, JP Morgan Securities and Standard Chartered as joint lead managers.

Minimum Subscription Limit

$200,000 with increments in multiples of $1,000.

Offer Price

Subject to market conditions

Par Value

 $200,000

Sukuk Return

Subject to market conditions

Maturity

Perpetual, callable after 5.5 years

Terms of Redemption       

The bank may redeem them in certain cases as detailed in the offering document related to the Additional Tier 1 Capital Certificate Issuance Program.
 

The certificates will be listed on the International Securities Market of the London Stock Exchange and may only be sold in accordance with (Regulation S) of the US Securities Act of 1933, as amended, the statement added.

 

The above-mentioned offering end date is the expected date for the completion of the offering, subject to market conditions, the bank further indicated.

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