Al-Inma plans to raise 5bn SAR via sukuk
Alinma Bank announced its intention to redeem the entire Additional Tier 1 Capital Sukuk worth 5 billion riyals, which were issued on July 1, 2021, on July 1, 2026, following approval from the Saudi Central Bank. The redemption will be at full nominal value for each sukuk, and all 5,000 sukuk, each valued at one million riyals, will be extinguished, resulting in the issuance's carrying amount decreasing to zero. The amounts due to investors registered before the redemption date will be paid accordingly. The Bank of Riyadh has been appointed as the manager of the process, with Riyad Capital acting as the Sukuk's trustee.
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