Riyadh, Saudi Arabia — Alinma Bank began issuing U.S. dollar-denominated sukuk on July 8, 2025. This private placement targets qualified investors inside and outside Saudi Arabia and operates through a special-purpose vehicle under its Trust Certificate Issuance Programme.
The issuance follows a board resolution authorizing the CEO to proceed. Alinma will set the sukuk’s value and yield based on market conditions. Moreover, the offering, expected to close on July 9, 2025, aims to reflect investor demand and market performance.
Alinma Bank USD Sukuk Issuance: Structure and Terms
Alinma appointed several joint lead managers, including:
- Abu Dhabi Islamic Bank PJSC
- Alinma Investment
- Dubai Islamic Bank PJSC
- Emirates NBD PJSC
- Goldman Sachs International
- J.P. Morgan Securities PLC
- Standard Chartered Bank
The minimum subscription is USD 200,000, with USD 1,000 increments. Each sukuk has a nominal value of USD 200,000 and a five-year maturity. Early redemption may occur under specific conditions outlined in the offering memorandum.
Once issued, the sukuk will be listed on the London Stock Exchange’s international securities market and will follow U.S. Regulation S rules, restricting sales in the U.S.
The Saudi Standard’s View: Global Sukuk Issuance Anchors Alinma’s Funding Strategy
The Alinma Bank USD sukuk issuance demonstrates the bank’s commitment to diversified, Islamic-compliant funding. By issuing in U.S. dollars via a private placement, Alinma taps global capital pools while reinforcing its trust certificate programme.
Listing on the London Stock Exchange signals international confidence in Saudi Islamic debt instruments. Importantly, a five-year tenor and early-call features give both issuer and investor flexibility, while Regulation S safeguards U.S. compliance.
This deal also enhances Saudi Arabia’s broader sukuk ecosystem. It underscores the market’s capability to support cross-border offerings by local banks. It sets a benchmark for future global issuances from the financial sector.
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