Alinma Bank issues $1bln tier 1 capital certificates

Reuters Images/Faisal Al Nasser

A total of 5,000 certificates were sold at $200,000 for each and an annual yield of 6.50%, according to a bourse filing

Staff Writer, Mubasher

February 29, 2024

PHOTO

Alinma Bank has completed the issuance of $1 billion USD-denominated additional tier 1 capital certificates.

A total of 5,000 certificates were sold at $200,000 for each and an annual yield of 6.50%, according to a bourse filing.

With a maturity of five years, the certificates are set to be listed on the International Securities Market of the London Stock Exchange.

The Tier 1 Capital certificates issuance was announced earlier in February to improve Alinma’s Tier 1 capital and serve general banking purposes.

It is worth noting that the bank’s net profits soared 34.45% YoY to SAR 4.83 billion in 2023 from SAR 3.59 billion.

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