Tadawul-listed Alinma Bank and Saudi Awwal Bank (Sab) are looking to issue USD-denominated debt to shore up their capital buffers, according to two separate filings to the bourse. Both transactions will be marketed to local and international investors, subject to regulatory approvals and market conditions.

#1- Alinma Bank is teeing up an issuance of sustainable additional tier 1 capitalcertificates. The debt sale, which falls under the bank’s AT1 programme, will be made through a special purpose vehicle, with proceeds going toward boosting its tier 1 capital and general banking purposes. This comes a little over a month after Alinma closed a USD 500 mn sukuk issuance.

ADVISORS- The bank tapped Abu Dhabi Islamic Bank, Alinma Capital, Dubai Islamic Bank, Emirates NBD, Goldman Sachs, JP Morgan, and Standard Chartered as joint lead managers.

#2- Sab is also moving ahead with USD-denominated tier 2 capital green notes, under its medium-term note program. Proceeds will be used to bolster tier 2 capital, support corporate purposes, and meet strategic goals within Sab’s sustainable debt framework. This comes a little under a month after Sab closed a SAR 2 bn local AT1 perpetual sukuk offering.

ADVISORS- HSBC, Goldman Sachs, Abu Dhabi Commercial Bank, Citi, DBS, Emirates NBD, Mashreq, Mizuho, and Société Générale are acting as joint lead managers on the transaction.

ALSO- Wsm for Information Technology is set to develop a SAR 500 mn shariah-compliant sukuk program, it said in a Tadawul disclosure yesterday. Wsm tapped Impact Financial as the financial advisor for the issuance and offering.

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