Bank Albilad intends to issue U.S. dollar-denominated additional tier 1 (AT1) capital sukuk through a private placement inside and outside Saudi Arabia, under its $2 billion AT1 capital sukuk program.
According to a statement on Tadawul, the bank said the value and terms of the sukuk will be determined at a later stage based on prevailing market conditions. The issuance aims to strengthen and support the bank’s capital base to enable the achievement of its long-term strategic objectives.
The bank appointed Abu Dhabi Commercial Bank PJSC, AlBilad Capital, Dubai Islamic Bank PJSC, Emirates NBD Capital Limited, HSBC Bank plc, Mashreqbank psc, Standard Chartered Bank, and Warba Bank K.S.C.P. as joint lead managers for the proposed offer.
The bank confirmed that the offering is subject to the approval of the relevant regulatory authorities and will be conducted in accordance with applicable laws and regulations.
Bank Albilad noted that the board of directors approved the issuance on March 4, 2025.
The bank will announce any other material developments in due course in line with the relevant rules and regulations.
Bank Albilad intends to issue U.S. dollar-denominated additional tier 1 (AT1) capital sukuk through a private placement inside and outside Saudi Arabia, under its $2 billion AT1 capital sukuk program.
According to a statement on Tadawul, the bank said the value and terms of the sukuk will be determined at a later stage based on prevailing market conditions. The issuance aims to strengthen and support the bank’s capital base to enable the achievement of its long-term strategic objectives.
The bank appointed Abu Dhabi Commercial Bank PJSC, AlBilad Capital, Dubai Islamic Bank PJSC, Emirates NBD Capital Limited, HSBC Bank plc, Mashreqbank psc, Standard Chartered Bank, and Warba Bank K.S.C.P. as joint lead managers for the proposed offer.
The bank confirmed that the offering is subject to the approval of the relevant regulatory authorities and will be conducted in accordance with applicable laws and regulations.
Bank Albilad noted that the board of directors approved the issuance on March 4, 2025.
The bank will announce any other material developments in due course in line with the relevant rules and regulations.
