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The Saudi Investment Bank (SAIB) plans to issue a Saudi riyal‑denominated AT1 capital sukuk through a private placement in the kingdom, under its SAR 5 billion sukuk issuance programme.
The proposed issuance is intended to strengthen the bank’s AT1 capital base and support its financial and strategic objectives.
SAIB is rated A2 by Moody’s, A‑ by Fitch, and BBB+ by S&P, all with stable outlooks.
The bank has appointed Alistithmar for Financial Securities and Brokerage Company and Al Rajhi Capital Company as joint lead managers and bookrunners for the potential offer.
SAIB made its international market debut in November 2024, raising $750 million through an AT1 issuance priced to yield 6.375%.
(Writing by Brinda Darasha; editing by Seban Scaria)
