Alinma Bank raised around SAR 5 billion from the issuance of Tier 1 sukuk at a final price of nearly 4%, CNBC Arabia reported, citing a document.

 

On June 10, Alinma Bank announced the start of issuance of SAR-denominated additional Tier 1 sukuk through private placement, according to data compiled by Argaam.

 

Issuance Details

Issuance Type

Additional Tier 1 SAR-denominated sukuk

Issuance Value

To be determined based on market conditions.

Start Date

June 10, 2021

End Date

July 8, 2021

Target Class

Sophisticated investors as per Article 9 of the Rules on the Offer of Securities and Continuing Obligations.

Minimum Subscription Value

SAR 1 mln

Offer Price (Sukuk/Bonds)

Subject to market conditions

Par Value

SAR 1 mln

Return (Sukuk/Bonds)

Subject to market conditions

Maturity period (Sukuk/Bonds)

Perpetual (without due date)

Terms of Redemption

The sukuk may be redeemed early due to a capital event, tax event or at the option of the bank as described in the terms and conditions of the sukuk.

Lead Managers

Alinma Investment Co. and JP Morgan Saudi Arabia as joint lead managers and joint bookrunners for the potential private placement offer

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Alinma Bank begins issuance of SAR-denominated additional Tier 1 sukuk today

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request