Alinma Bank completes issuance of $1B AT1 capital certificates

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Alinma Bank announced today, Feb. 29, the completion of its dollar-denominated Additional Tier 1 (AT1) capital certificates issuance, as follows:

 

Offer Details

Item

Details

Offer Type

Dollar-denominated AT1 capital certificates

Issuance Value

$1 bln

Total Number (Sukuk/Bonds)

5,000 (based on the minimum denomination and total issue size)

Nominal Value (Sukuk/Bond)

$200,000

Return (Sukuk/Bond)

6.5% annually

Maturity Period

Perpetual, callable after 5 years

Redemption Terms

Certificates may be redeemed prior to the scheduled maturity date in certain cases as detailed in the Offering Circular dated Feb. 26.
 

The Additional Tier 1 capital certificates will be listed on the International Securities Market of the London Stock Exchange. The certificates may only be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.

 

According to data available on Argaam, Alinma Bank commenced, on Feb. 28, the offer of dollar-denominated Additional Tier 1 (AT1) capital certificates. The number and terms of the AT1 certificates were to be set according to market conditions.

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