Saudi Investment Bank (SAIB) has commenced the private placement of its Additional Tier 1 (AT1) capital sukuk offering under its broader SAR 5 billion ($1.33 billion) sukuk issuance programme.

The new debt issuance runs until May 7, 2026 and is open to “eligible investors” as defined by the Saudi regulator.

The par value is pegged at SAR 1 million per Sak, with the minimum subscription per investor also at SAR 1 million.

The offering is being managed by Alistithmar Capital and Al Rajhi Capital as joint lead managers and bookrunners.

The bank had announced early Wednesday its intention to issue the AT1 sukuk to bolster its capital reserves.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com