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Regulatory capital issuance in the Kingdom shows no sign of slowing down, with Saudi Awwal Bank (Sab) and Alnima Bank raising USD 1.75 bn through their USD-denominated sustainable issuances. Meanwhile, Arab National Bank (ANB) is gearing up to issue sustainable sukuk under its international AT1 program.
#1- Sab raised USD 1.25 bn via its USD-denominated T2 green bond issuance, it said in a disclosure toTadawul on Thursday. The offering was issued under the bank’s medium-term note program and was open to both local and international investors. This comes a little under a month after Sab closed a SAR 2 bn local AT1 perpetual sukuk offering.
About the bond: The 10-year notes, callable after five years, are priced with an annual return of 5.947%. The issuance comprised 6.25k notes at USD 200k each. The Reg S-compliant issuance will be listed on the London Stock Exchange’s International Securities Market.
ADVISORS- The bank appointed our friends at HSBC and Mashreq as joint lead managers, alongside Goldman Sachs International, Abu Dhabi Commercial Bank, Citigroup, DBS, Emirates NBD, Mizuho International, and Société Générale.
#2- Alinma Bank closed a USD 500 mn sustainable AT1 issuance, it said in a disclosure toTadawul on Thursday. The perpetual certificates were offered to local and international investors under the bank’s AT1 capital certificate program. This comes a little over a month after Alinma closed a USD 500 mn sukuk issuance.
The deets: The certificates were priced with an annual return of 6.25% and are callable after 5.5 years. The issuance comprised 2.5k notes at USD 200k each. The Reg S-compliant certificates will be listed on the London Stock Exchange’s International Securities Market.
ADVISORS- Alinma tapped Abu Dhabi Islamic Bank, Alinma Capital, Dubai Islamic Bank, Emirates NBD, Goldman Sachs International, JP Morgan Securities, and Standard Chartered as joint lead managers.
ALSO- ANB is planning a USD-denominated sustainable AT1 sukuk under its international AT1 program, it said in a disclosure to Tadawul on Thursday. The issuance will target eligible local and international investors. Proceeds will support Tier 1 capital and align with the bank’s sustainable finance framework. The size and pricing will be set at a later stage, depending on market conditions.
ADVISORS-ANB Capital, Arqaam Capital, Citigroup Global Markets, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC, Kamco Investment, Merrill Lynch International, SMBC, and Standard Chartered are tapped as joint lead managers and bookrunners.
