Alinma Bank issues $500M AT1 sukuk

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Alinma Bank completed the issuance of additional Tier 1 (AT1) sukuk worth $500 million.

 

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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.

 

According to data available on Argaam, the bank started the sukuk sale on May 20.

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