Alinma Bank raised USD 500 mn through a 10-year Tier 2 sukuk, callable after five years, under its trust certificate program, it said in a disclosure to Tadawul with no word on the subscription rate.

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The deets: The Reg S-only notes carry a 5.792% annual yield, and were issued in 2.5k certificates at a par value of USD 200k each. Settlement is slated for Monday, 10 November, with listing planned on the London Stock Exchange.

ICYMI- Alinma flagged plans earlier this week to issue the Tier 2 sukuk under its trust certificate program to support its general banking operations. The issuance, which opened on Tuesday, follows a USD 500 mn sustainable AT1 sale in August, as the bank continues to build out its capital base.

ADVISORS- The lender had tapped Alinma Capital, ASB Capital, Citigroup Global Markets, DBS Bank, Goldman Sachs International, JP Morgan Securities and Standard Chartered Bank as joint lead managers on the transaction.

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