Saudi Awwal Bank’s AT1 sukuk stood out as the first ever deal of this structure in a dual-tranche format.
Robust demand allowed final terms for the deal to tighten to three-month SAIBOR + 134 basis points and 6.07% reflecting strong price tension and smooth execution.
The book closed with commitments from 85 separate investors – 47% more than Saudi Awwal Bank’s October 2023 AT1 transaction – highlighting growing appetite for Saudi riyal AT1 paper.
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