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Alinma Bank completes $500M AT1 sukuk issuance
Alinma Bank said it completed the issuance of USD-denominated additional Tier 1 (AT1) sustainable sukuk worth $500 million under its AT1 program, according to a statement on Tadawul.
Issuance details
| Item | Description | |
| Type of issuance | USD-denominated AT1 sustainable sukuk under the AT1 issuance program | |
| Issue size | $500 mln | |
| Total number of sukuk | 2,500 sukuk (based on minimum denomination and total issuance size) | |
| Nominal value | $200,000 | |
| Return | 6.25% per annum | |
| Maturity | Perpetual, callable after 5.5 years | |
| Redemption conditions | The debt instruments may be redeemed prior to the scheduled record date in certain cases, as detailed in the offering circular of the AT1 issuance program | |
The bank had launched the dollar-denominated AT1 sustainable sukuk on Aug. 27, according to Argaam data.
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