Alinma Bank announced on Wednesday the completion of its U.S. dollar-denominated sukuk issuance, valued at $500 million, under its Trust Certificate Issuance Programme.
The bank confirmed that 2,500 sukuk were issued, based on the minimum denomination and total issuance size. Each sukuk carries a face value of $200,000, with an annual profit rate of 4.937%.
According to the statement published on Tadawul, the sukuk will mature on 15 July 2030, with provisions for early redemption under certain conditions as outlined in the offering circular.
The certificates will be listed on the International Securities Market of the London Stock Exchange. They may only be sold in accordance with Regulation S under the U.S. Securities Act of 1933, as amended.
