Impact46 advises Tamweel Aloula on issuance of additional tier-1 capital sukuk

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Impact46 announced the completion of Tamweel Aloula’s first issuance of an additional tier-1 capital sukuk programme. This transaction marks the launch of Impact46’s debt capital markets advisory business, aligning with its broader expansion plans to diversify into new, emerging financial products. The issuance was conducted via a private placement with a view for direct listing of the on the Saudi Exchange, subject to regulatory approvals.

In a statement to Argaam, the company highlighted that this accomplishment signifies a groundbreaking strategic initiative for Impact46, aimed at expanding its investment operations to include advisory services in sukuk and debt markets. This marks the first issuance of its kind by a non-banking financial institution in the Kingdom, serving as a strategic effort to expand financing options and deliver advanced solutions that boost the diversity and competitiveness of non-banking institutions in the dynamic market.

Tamweel Aloula Company is a leading non-banking financial institution licensed by SAMA to provide Shariah compliant financing solutions to individuals and SMEs.  Impact46 acted as the financial advisor and arranger on the transaction and Norton Rose Fulbright acted as the legal counsel.

Abdulaziz Alomran, Founder and CEO of Impact46 commented: “We are proud to have had the opportunity to assist Tamweel Aloula on this innovative transaction.  We believe that this is the right time for us to expand into debt capital markets, given the current positive market sentiment and strong regulatory support.”

Andrei Ugarov, Managing Director Credit Advisory of Impact46 added: “This transaction will open the door for Impact46 to assist other companies with innovative debt capital market and credit solutions. We are excited about this market opportunity and look forward to expanding our reach into new areas in financial services in the kingdom.”