PHOTO
Saudi Arabia’s Alinma Bank has priced a $500 million Tier 2 USD sukuk at 5.792%.
The spread came in at US Treasuries plus 210 basis points, allowing the bank to trim 30 bps from the initial price thoughts (IPTs).
The transaction attracted strong demand. Books peaked at $1.5 billion and settled at $1.2 billion, excluding JLM interest.
The sukuk will pay semi-annual profit distributions, with the first payment due on 10 May 2026.
(Writing by Brinda Darasha; editing by Seban Scaria)
