Alinma Bank offers dollar-denominated benchmark tier 1 certificates

Chicago, Feb. 28 – Alinma Bank is offering additional tier 1 capital certificates, according to multiple notices.

The issuance is through special purpose vehicle Alinma Tier 1 Sukuk Ltd.

The benchmark deal will be dollar-denominated.

The tenor will be perpetual with call protection for five years.

Abu Dhabi Islamic Bank PJSC, Alinma Investment Co., Emirates NBD Bank PJSC, J.P. Morgan Securities plc, MUFG Securities EMEA plc and Standard Chartered Bank have been hired as joint lead managers.

Proceeds will be used to improve tier 1 capital and for general banking purposes.

Distribution is through Regulation S, and the listing will be in London.

Alinma Bank is a Saudi provider of Shariah-compliant banking and financial services.

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