Riyadh – Mubasher: Alinma Bank is planning to issue USD-denominated Additional Tier 1 Capital Certificates to improve Tier 1 capital and serve general banking purposes.
The issuance is expected to be conducted through a special purpose vehicle to eligible investors in Saudi Arabia and abroad, according to a bourse filing.
The bank has mandated Abu Dhabi Islamic Bank, Alinma Investment Company, Emirates NBD Bank, J.P. Morgan Securities, MUFG Securities EMEA, and Standard Chartered Bank as Joint Lead Managers for the offering.
It is worth noting that Alinma Bank’s net profits surged 34.45% YoY to SAR 4.83 billion in 2023 from SAR 3.59 billion.
