Rashad Iskandrni

 

30 September 2026: ASB Capital, a purpose-driven asset and wealth management firm with assets under management (AUM) of USD 10.2 billion, announced its appointment as Joint Lead Manager and Bookrunner on Arab National Bank’s USD 750 million perpetual Additional Tier 1 (AT1) Sukuk issuance.

Strong investor demand drove orders in excess of USD 3 billion, representing over four times the issue size. The perpetual Sukuk, callable after five years, was priced with a profit rate of 6.50% and is listed on the London Stock Exchange’s International Securities Market.

ASB Capital participated in the transaction alongside a syndicate of leading regional and international financial institutions, including Citigroup Global Markets, Goldman Sachs International, HSBC, Mizuho International, Standard Chartered Bank, ANB Capital, Arab Bank, Arqaam Capital and Warba Bank.

This mandate marks ASB Capital’s first transaction with Arab National Bank and further broadens the firm’s relationships across Saudi Arabia’s banking sector.

Commenting on the transaction, Hussain Abdulaq, Chief Treasury Officer at Al Salam Bank, said: “This appointment by Arab National Bank is a strong endorsement of the investment banking platform we are building across the Group. Participating alongside leading global and regional institutions on a major Saudi bank capital transaction demonstrates the progress of our strategy and is in line with our direction to increase fixed income exposure”.

Hichem Djouhri, Senior Executive Officer of ASB Capital, added: “We are pleased to have supported Arab National Bank on our first mandate together. The transaction expands our relationships across Saudi Arabia’s banking sector and reflects the trust issuers place in our execution and distribution capabilities. We remain focused on connecting regional institutions with a broad investor base and supporting their capital management objectives.”

ASB Capital has participated in several debt capital markets transactions across the GCC, including issuances by Kuwait Finance House, Kuwait International Bank, Bapco Energies, Solidarity Bahrain, Al Salam Bank, Alinma Bank, Dubai Islamic Bank, AlJazira Bank, Ajman Bank, and Saudi Real Estate Refinance Company. The firm continues to expand its capital markets and investment banking activities alongside its broader asset management and advisory platform.