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Saudi Arabia’s Alinma Bank, rated A2 by Moody’s and A- by S&P and Fitch (all with a stable outlook), is marketing a dollar-denominated sustainable perpetual non-call 5.5-year fixed rate resettable Additional Tier 1 sukuk.
Abu Dhabi Islamic Bank, Alinma Capital Company, Arqaam Capital, ASB Capital, Citigroup Global Markets Limited, DBS Bank Ltd., Emirates NBD Bank, First Abu Dhabi Bank, Goldman Sachs International, JP Morgan Securities, Mashreqbank (acting through its Islamic Banking Division), Standard Chartered Bank, Warba Bank K.S.C.P. are working on the Mudaraba issuance as joint lead managers and joint bookrunners.
The bank said funds raised from the Regulation S sukuk will go towards improving its Tier 1 capital, with investor calls commencing today.
The offering will fall under the bank’s Alinma Tier 1 Capital Certificate issuance programme.
A listing on the London Stock Exchange’s International Securities Market.
(Writing by Bindu Rai, editing by Seban Scaria)
