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Alarabi completes Sukuk issuance of $750 million
The Arab National Bank announced the completion of an issuance of Additional Tier 1 Capital Sukuk amounting to USD 750 million, divided into 3,750 sukuk with a nominal value of USD 200,000 each, bearing an annual fixed return of 6.5%. The issuance aims to strengthen the bank's capital base and enhance capital adequacy. The sukuk will mature on September 9, 2026, and can be redeemed after five years in accordance with the terms. Additionally, the sukuk are listed on the London Financial Market and are subject to the provisions of the U.S. Regulation S.
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