Riyadh - Mubasher: Alinma Bank completed the offering of additional Tier 1 Sukuk worth SAR 5 billion through a private placement.
The total number of Sukuk amounted to 5,000 at a par value of SAR 1 million each, the bank said in a bourse disclosure on Thursday.
The rate of perpetual Sukuk stands at 4% per annum from the issuance date up to 1 July 2026. The rate of return will then be reset on 1 July 2026 and every five years thereafter.
The Sukukmay be redeemed earlier, due to a capital event, tax event, or at the option of the bank as described in the terms and conditions of the Sukuk.
