Logo of Alinma Bank
Alinma Bank commenced the offer of dollar-denominated Additional Tier 1 (AT1) capital certificates. The number and terms of the AT1 certificates will be set according to market conditions, the bank said in a statement to Tadawul.
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Offer Details |
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Offer Type |
Dollar-denominated AT1 capital certificates |
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Issuance Value |
The number and terms will be set based on market conditions |
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Offer Start Date |
Feb. 28, 2024 |
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Offer End Date |
Feb. 29, 2024 |
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Target Category |
Qualified investors inside and outside Saudi Arabia |
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Lead Managers |
Abu Dhabi Islamic Bank, Alinma Investment Co., Emirates NBD, J.P. Morgan Securities plc, MUFG Securities EMEA plc. and Standard Chartered Bank as joint lead managers |
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Minimum Limit |
$200,000, with increments of $1,000 |
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Offer Price |
Based on market conditions |
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Nominal Value |
$200,000 |
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Return |
Based on market conditions |
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Maturity Period |
Perpetual, callable after 5 years |
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Redemption Terms |
The certificates may be redeemed before the scheduled maturity date under certain conditions as detailed in the offering circular |
This announcement does not constitute an invitation or an offer to buy, own, or subscribe to any securities. It is subject to the sukuk terms and conditions, the bank noted.
The certificates will be listed on London Stock Exchange's International Securities Market (ISM). The sale of the sukuk is permissible only in accordance with Regulation S of the US Securities Act of 1933, as amended.
The end date referred to above is the expected date for the end of the offering, subject to market conditions.
On Feb. 26, the 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 on behalf of the bank to issue these certificates, Argaam earlier reported.
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