Alinma Bank intends to issue U.S. Dollar-denominated Additional Tier 1 Capital Certificates

Alinma Bank (the “Bank”) announced on Monday its intention to issue U.S.-denominated Additional Tier 1 Capital Certificates based on its Board of Directors resolution dated 31/01/2024 in which it delegated the chief executive officer with all powers and authority necessary or appropriate on behalf of the Bank to carry out the issuance of the Additional Tier 1 Capital Certificates (the “Proposed Offer”).

The Bank explained that the issuance is expected through a particular purpose vehicle and an offer to eligible investors in the Kingdom of Saudi Arabia and internationally.

The Bank has mandated Abu Dhabi Islamic Bank PJSC, Alinma Investment Company, Emirates NBD Bank P.J.S.C., J.P. Morgan Securities plc, MUFG Securities EMEA plc and Standard Chartered Bank as Joint Lead Managers in relation to the Proposed Offer.

According to a statement published in Tadawul, the bank aims to improve the capital of the first tranche and for general banking purposes through the offering.

It’s worth noticing that the Additional Tier 1 Capital Certificates offer will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations.