Ajman Bank has successfully completed its inaugural $300 million Additional Tier 1 (AT1) Perpetual Non-Call 5.5-Year Sukuk, pricing the issuance at a 6.5% profit rate. The milestone transaction strengthens the bank's capital position and marks another step in its long-term funding strategy.
The issuance attracted strong participation from institutional investors across regional and international markets, reflecting growing confidence in Ajman Bank's financial performance, credit profile, and ongoing transformation initiatives. The AT1 Sukuk follows the bank's debut senior Sukuk issued last year, further expanding its capital-raising capabilities.
Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, described the issuance as a significant development in the bank's capital management strategy. He said the successful offering demonstrates investor confidence while supporting the bank's efforts to strengthen its capital base, diversify funding sources, and continue financing customers, businesses, and the UAE economy.
Chief Executive Officer Mustafa Al Khalfawi noted that the debut AT1 Sukuk broadens the bank's regulatory capital toolkit and enhances funding flexibility. He added that the strong institutional demand reflects increasing market confidence in Ajman Bank's long-term growth strategy.
According to the bank, the proceeds will reinforce its commitment to sustainable growth and responsible banking while supporting the continued expansion of financial services. The issuance also aligns with the UAE's broader objective of developing deeper and more resilient capital markets.
The Sukuk is scheduled to be listed on the London Stock Exchange's International Securities Market and Nasdaq Dubai, providing international investors with access to the offering.
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