Alimna Bank Mandates Banks for USD Benchmark Sukuk
Deal News | Jul 07, 2025 | Zawya
Saudi Arabia's Alinma Bank has announced it is mandating a consortium of banks to manage its upcoming issuance of a US dollar-denominated benchmark 5-year sukuk. This Islamic finance instrument is anticipated to carry a rating of A- by both S&P and Fitch. Notable financial institutions including Abu Dhabi Islamic Bank, Alinma Capital Company, Dubai Islamic Bank, Emirates NBD Capital, JP Morgan, Goldman Sachs International, and Standard Chartered Bank have been appointed as Joint Bookrunners and Lead Managers for the process. Investor calls are scheduled to take place on July 7, 2025, and the sukuk will be structured using a Wakala Murabaha setup, with the listing taking place on the London Stock Exchange's International Securities Market. The funds raised from this sukuk will be directed towards general banking purposes. Earlier in May, Alinma Bank offered a $500 million US dollar-denominated sukuk with a yield of 6.5%.
Sectors
- Banking & Finance
- Islamic Finance
Geography
- Saudi Arabia – Home country of Alinma Bank and center for the financial activities described.
- United Arab Emirates – Several participating banks, such as Abu Dhabi Islamic Bank and Dubai Islamic Bank, are based here.
- United Kingdom – The sukuk is to be listed on the London Stock Exchange, highlighting the role of the UK as a financial hub.
Industry
- Banking & Finance – Involves entities involved in delivering financial services, particularly focusing on the issuance of a financial instrument like a sukuk.
- Islamic Finance – Concerns financial activities that comply with Sharia law, exemplified by the issuance of sukuk and Wakala Murabaha structures.
Financials
- $500 million – Amount for the US dollar-denominated sukuk launched in May by Alinma Bank.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Alinma Bank | Issuer | Company | Saudi-listed bank issuing the sukuk. |
| Abu Dhabi Islamic Bank | Joint Bookrunner / Joint Lead Manager | Company | Appointed to arrange the sukuk issuance. |
| Alinma Capital Company | Joint Bookrunner / Joint Lead Manager | Company | Part of the consortium managing the sukuk issuance. |
| Dubai Islamic Bank | Joint Bookrunner / Joint Lead Manager | Company | Appointed to arrange the sukuk issuance. |
| Emirates NBD Capital | Joint Bookrunner / Joint Lead Manager | Company | Part of the consortium managing the sukuk issuance. |
| JP Morgan | Joint Bookrunner / Joint Lead Manager | Company | Part of the consortium managing the sukuk issuance. |
| Goldman Sachs International | Joint Bookrunner / Joint Lead Manager | Company | Appointed to arrange the sukuk issuance. |
| Standard Chartered Bank | Joint Bookrunner / Joint Lead Manager | Company | Appointed to manage the sukuk issuance. |