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Alinma Bank issues $500M AT1 sukuk
Alinma Bank completed the issuance of additional Tier 1 (AT1) sukuk worth $500 million.
In a statement to Tadawul, the bank said the sukuk will be settled on May 28, 2025.
| Details | |
| Offer Type | US dollar-denominated AT1 sukuk under its AT1 Capital Note Programme |
| Offer Value | $500 mln |
| Target Categories | Qualified investors inside and outside Saudi Arabia |
| Agents | Abu Dhabi Islamic Bank, Alinma Investment, Emirates NBD, Goldman Sachs International, J.P. Morgan Securities, and Standard Chartered Bank as joint lead managers |
| Total No. of Sukuk | 2,500 (based on minimum denomination and total issue size) |
| Nominal Value | $200,000 |
| Return | 6.50% annually |
| Maturity | Perpetual, callable after 5.5 years |
| 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.
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