Saudi Arabia's Bank Albilad raises $650m in debut USD AT1 sukuk
Bank Albilad has launched its first US dollar-denominated Additional Tier 1 (AT1) sukuk, raising $650 million through a 5.5-year perpetual non-call mudarabah structure. The sukuk, issued under the bank’s $2 billion AT1 capital sukuk programme, was priced at 6.5%, tightened from initial price thoughts of around 6.75%, following strong investor demand.
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Muhammad Ali Bandial