Logo of Alinma Bank
Alinma Bank announced the start of issuance of SAR-denominated additional Tier 1 sukuk through private placement.
The number and value of sukuk to be offered will be determined based on market conditions, the company said in a bourse statement.
The bank indicated that the issuance targets the sophisticated investors as defined in Article 9 of the rules on the offer of securities and continuing obligations.
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Issuance Details |
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Issuance Type |
Additional Tier 1 SAR-denominated sukuk |
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Issuance Value |
To be determined based on market conditions. |
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Start Date |
June 10, 2021 |
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End Date |
July 8, 2021 |
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Target Class |
Sophisticated investors as per Article 9 of the Rules on the Offer of Securities and Continuing Obligations. |
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Minimum Subscription Value |
SAR 1 mln |
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Offer Price (Sukuk/Bonds) |
Subject to market conditions |
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Par Value |
SAR 1 mln |
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Return (Sukuk/Bonds) |
Subject to market conditions |
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Maturity period (Sukuk/Bonds) |
Perpetual (without due date) |
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Terms of Redemption |
The sukuk may be redeemed early due to a capital event, tax event or at the option of the bank as described in the terms and conditions of the sukuk. |
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Issuance Lead Managers |
Alinma Investment Co. and JP Morgan Saudi Arabia Co. as joint lead managers and joint bookrunners for the potential private placement offer |
The announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk, Alinma Bank clarified, adding that any other relevant material development will be announced in due course.
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