Alinma Bank Launches Dollar-Denominated Sukuk Offering

The minimum subscription is set at $200,000, with additional increments of $1,000, and the face value of each certificate is also $200,000.

The sukuk will mature in five years and may be redeemed under certain conditions, as outlined in the Offering Circular.

Alinma Bank stated that the target investors include qualified individuals and institutions both inside and outside Saudi Arabia. The total issuance size, pricing, and return will be determined based on prevailing market conditions.

The bank has appointed Abu Dhabi Islamic Bank PJSC, Alinma Capital Company, Dubai Islamic Bank PJSC, Emirates NBD Bank PJSC, Goldman Sachs International, J.P. Morgan Securities PLC, and Standard Chartered Bank as joint lead managers for the offering.

The sukuk will be listed on the London Stock Exchange’s International Securities Market, and will be offered in reliance on Regulation S of the U.S. Securities Act of 1933, as amended.