Alinma Bank plans 5B Riyal bond redemption

Alinma Bank of Saudi Arabia has announced its intention to redeem additional Tier 1 capital sukuk valued at 5 billion Riyals, which were issued in 2021. The redemption is scheduled for the first call date on July 1st. The process will involve the redemption of the nominal value along with any accrued dividends, with the record date for entitlement set for June 16th, pending regulatory approvals. This step is part of the bank's plan to increase its capital from 25 billion Riyals to 30 billion Riyals, aimed at strengthening its capital base and supporting future expansion.

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