Alinma Bank closed a USD 500 mn sukuk issuance yesterday, after books opened earlier this week, according to a disclosure to Tadawul. The offering was open to both local and foreign investors as part of the lender’s Trust Certificate Issuance Program.

About the bond: The five-year notes were priced with an annual coupon of 4.937%, and a minimum subscription of USD 200k. The Reg S-compliant sukuk will be listed on the London Stock Exchange.

ADVISORS- The lender enlisted Abu Dhabi Islamic Bank, Alinma Capital Company, Dubai Islamic Bank, Emirates NBD Bank, Goldman Sachs International, JP Morgan Securities, and Standard Chartered Bank as joint lead managers on the transaction.

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