Alinma Bank raises SAR 5 bln from sukuk issue: report

30/06/2021 Argaam


Alinma Bank raised around SAR 5 billion from the issuance of Tier 1 sukuk at a final price of nearly 4%, CNBC Arabia reported, citing a document.

 

On June 10, Alinma Bank announced the start of issuance of SAR-denominated additional Tier 1 sukuk through private placement, according to data compiled by Argaam.

 

Issuance Details

Issuance Type

Additional Tier 1 SAR-denominated sukuk

Issuance Value

To be determined based on market conditions.

Start Date

June 10, 2021

End Date

July 8, 2021

Target Class

Sophisticated investors as per Article 9 of the Rules on the Offer of Securities and Continuing Obligations.

Minimum Subscription Value

SAR 1 mln

Offer Price (Sukuk/Bonds)

Subject to market conditions

Par Value

SAR 1 mln

Return (Sukuk/Bonds)

Subject to market conditions

Maturity period (Sukuk/Bonds)

Perpetual (without due date)

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.

Lead Managers

Alinma Investment Co. and JP Morgan Saudi Arabia as joint lead managers and joint bookrunners for the potential private placement offer

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