Latest news with #AT1Capital
Zawya
2 days ago
- Business
- Zawya
Dubai-listed Al Salam Bank's AT 1 issuance raises $450mln
Al Salam Bank, a Shariah-compliant bank based in Bahrain, has raised $450 million in its Additional Tier 1 (AT1) capital issuance. The private placement drew substantial demand from investors in the region and overseas despite global market volatility, the company, which is dual-listed on the Bahrain Bourse and Dubai Financial Market (DFM), said on Tuesday. 'The overwhelming response to our USD 450 million AT1 capital issuance is a testament to Al Salam Bank's financial stability, market credibility and strategic direction,' said Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital. Al Salam's investment banking arm, ASB Capital was mandated to advise and structure the issuance. The offering is part of the company's strategy to strengthen its capital base and support future growth plans. The company also looks to boost its position as a diversified financial group in the region. Since 2020, Al Salam has consistently increased its total equity by more than 65%, according to Nayed. (Writing by Cleofe Maceda; editing by Seban Scaria)
Trade Arabia
2 days ago
- Business
- Trade Arabia
Al Salam Bank Bahrain closes $450m AT1 capital issuance
Al Salam Bank has announced the successful closure of its $450 million additional Tier 1 (AT1) capital issuance, reflecting strong investor confidence in the Bahraini bank's financial strength and long-term growth strategy. The issuance, which was structured as a private placement and advised by ASB Capital (the Group's asset management and investment banking arm headquartered in the DIFC), attracted substantial demand from regional and international investors. The AT1 Capital issuance forms a key initiative within the Group's broader financial optimisation strategy, enhancing its capital position to support future growth plans. Following market leading annual growth exceeding 35% across balance sheet metrics, the issuance was designed to further enhance the Group's financial standing and capitalization profile. The issuance also underscores the bank's commitment to sustainable growth and financial resilience, positioning it as a leading and diversified financial group in the region. The significant investor demand highlights the Group's ability to access liquidity from regional and global markets, reflecting strong investor confidence in the Bank's strategy and financial position. ASB Capital was mandated by Al Salam Bank to advise and structure the issuance. As part of its Capital Markets offering, ASB Capital provides innovative and tailored financing solutions to meet the evolving needs of clients by leveraging market expertise and strategic partnerships. Most recently, ASB Capital was also appointed as a joint lead manager by Bapco Energies in Q1 2025 for its $1 billion Sukuk issuance. Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital, said: "The overwhelming response to our $450 million AT1 Capital issuance is a testament to Al Salam Bank's financial stability, market credibility, and strategic direction." "Since 2020, we have consistently increased our total equity by more than 65%, and this issuance further strengthens our capital base and enhances our financial agility to execute our ambitious growth aspirations," stated Nayed. "We have recently rolled out an aggressive growth strategy across all Group companies. We are confident that the Group is well positioned to continue creating sustainable shareholder value," he noted. Nayed highlighted ASB Capital's ability to attract substantial investor demand, despite global market volatility, spotlighting the team's capabilities in the Capital Markets space. "By focusing on efficient capital raising and tailored financing solutions, ASB Capital connects clients to a broad network of funding sources, enabling them to adapt to market conditions and achieve growth aspirations," he stated.
Zawya
3 days ago
- Business
- Zawya
Al Salam Bank successfully closes $450mln AT1 capital issuance
Manama, Bahrain: Al Salam Bank (Bahrain Bourse trading code 'SALAM', Dubai Financial Market trading code 'SALAM_BAH') announced the successful close of its USD 450 million Additional Tier 1 (AT1) Capital issuance, reflecting strong investor confidence in the Bank's financial strength and long-term growth strategy. The issuance, which was structured as a private placement and advised by ASB Capital (the Group's asset management and investment banking arm headquartered in the DIFC), attracted substantial demand from regional and international investors. The AT1 Capital issuance forms a key initiative within the Group's broader financial optimization strategy, enhancing its capital position to support future growth plans. Following market leading annual growth exceeding 35% across balance sheet metrics, the issuance was designed to further enhance the Group's financial standing and capitalization profile. The issuance also underscores the Bank's commitment to sustainable growth and financial resilience, positioning it as a leading and diversified financial group in the region. The significant investor demand highlights the Group's ability to access liquidity from regional and global markets, reflecting strong investor confidence in the Bank's strategy and financial position. ASB Capital was mandated by Al Salam Bank to advise and structure the issuance. As part of its Capital Markets offering, ASB Capital provides innovative and tailored financing solutions to meet the evolving needs of clients by leveraging market expertise and strategic partnerships. Most recently, ASB Capital was also appointed as a joint lead manager by Bapco Energies in Q1 2025 for its USD 1 billion Sukuk issuance. Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital, commented: 'The overwhelming response to our USD 450 million AT1 Capital issuance is a testament to Al Salam Bank's financial stability, market credibility, and strategic direction. Since 2020, we have consistently increased our total equity by more than 65%, and this issuance further strengthens our capital base and enhances our financial agility to execute our ambitious growth aspirations. We have recently rolled out an aggressive growth strategy across all Group companies. We are confident that the Group is well positioned to continue creating sustainable shareholder value.' Additionally, he stated: 'ASB Capital's ability to attract substantial investor demand, despite global market volatility, highlights the team's capabilities in the Capital Markets space. By focusing on efficient capital raising and tailored financing solutions, ASB Capital connects clients to a broad network of funding sources, enabling them to adapt to market conditions and achieve growth aspirations. In addition to Al Salam Bank's AT1 Capital issuance, the firm's Capital Markets pipeline includes mandates from regional financial institutions and institutional clients covering Sukuk, Tier 2 Capital, syndications, and other structured instruments.'
Zawya
28-05-2025
- Business
- Zawya
IPTs out for Sharjah Islamic Bank's USD perpetual non-call 6-year AT1 sukuk
Sharjah Islamic Bank (SIB), rated A- by S&P (negative outlook) and BBB+ by Fitch (stable outlook), has revealed IPTs in the 6.500% area for its USD benchmark perpetual non-call 6-year AT1 sukuk offering. The final pricing will be announced today. Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq and Standard Chartered Bank have been appointed as Joint Lead Managers and Joint Bookrunners for the Reg S fixed rate resettable unrated offering. As Sharjah's largest bank by total assets, the Mudaraba offering will be a part of SIB's $500 million Additional Tier 1 Capital Certificates programme. The issue date for the offering is June 4, 2025. The sukuk will trade on Euronext Dublin and Nasdaq Dubai. The ADX-listed SIB said the net proceeds of the issue will be used to enhance its tier 1 capital as well as for general corporate purposes. (Writing by Bindu Rai, editing by Daniel Luiz)
Zawya
14-05-2025
- Business
- Zawya
IPTs out for Saudi Awwal Bank's USD green AT1 sukuk
Saudi Awwal Bank (A1 / A-) has mandated banks to arrange through private placement, a Reg S debut USD benchmark-sized green sukuk under its $5 billion additional tier 1 (AT1) capital certificate programme. IPTs for the mudaraba sukuk are in the 6.875% area. BofA Securities and HSBC Bank have been named global coordinators and joint lead managers for the proposed issuance. HSBC will be the sole green structurer of the sukuk. The proceeds will support the lender's capital base and general corporate purposes. The sukuk will be listed on the London Stock Exchange's International Securities Market. (Editing by Brinda Darasha;
