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The initial price thoughts for Saudi Alinma Bank’s 5-year $500 million WNG senior sukuk offering are in the area of 130 basis points plus Treasuries.
The Saudi lender, rated A2 (stable) by Moody’s, A- (stable) by S&P and A- (stable) by Fitch, said the Reg S Category 2 Wakala structure will be priced on Tuesday.
The expected sukuk is rated A- by S&P and A- by Fitch, with an issue date of 15 July 2025
Proceeds will be used for general banking business, with the issuance to be listed on London Stock Exchange’s International Securities Market.
Abu Dhabi Islamic Bank, Alinma Capital, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, JP Morgan and Standard Chartered Bank have been appointed as Joint Lead Managers.
The issuance comes under Alinma Sukuk Limited’s $500 million Trust Certificate Issuance Programme.
(Writing by Bindu Rai, editing by Daniel Luiz)
