Logo of Alinma Bank
Alinma Bank announced its intention to issue USD-denominated additional Tier1 capital certificates based on its board of directors’ resolution, on Jan. 31, 2024, in which it delegated the chief executive officer with all powers and authority necessary or appropriate on behalf of the bank to carry out the issuance of the sukuk.
In a statement to Tadawul, the bank expected the issuance to be through a special purpose vehicle and by way of an offer to eligible investors in Saudi Arabia and internationally.
The bank has mandated Abu Dhabi Islamic Bank, Alinma Investment, Emirates NBD, J.P. Morgan Securities, MUFG Securities EMEA and Standard Chartered Bank as joint lead managers.
The amount and terms of the offer will be determined subject to the market conditions, the statement indicated.
The offer is subject to the approval of the relevant regulatory authorities and will be in compliance with applicable laws and regulations. This announcement is not intended as an invitation of offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the additional Tier 1 capital certificates.
The bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.
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