Ajman Bank, rated BBB+ (Stable) by Fitch, has successfully priced its inaugural USD 300 million Additional Tier 1 (AT1) Perpetual Non-Call 5.5-Year Sukuk at a profit rate of 6.500%, marking another important milestone in the Bankโs continued growth journey.
The issuance reflects the strong confidence investors placed in Ajman Bankโs financial strength, strategic direction, and ongoing transformation. As the Bankโs first Additional Tier 1 capital Sukuk issuance, this achievement builds on the success of its debut senior Sukuk issuance last year and highlights the progress made in strengthening its financial profile.
Through this successful transaction, Ajman Bank continues to strengthen its capital foundation, diversify in its funding sources, and enhances its ability to support customers, businesses, and the wider UAE economy. The issuance attracted strong interest from a high-quality investor base across the region and internationally, reflecting growing recognition of the Bankโs strong franchise and credit profile.
His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said:”Our inaugural Additional Tier 1 (AT1) Sukuk issuance represents a natural evolution in Ajman Bankโs capital management strategy and reflects the significant progress we have made in strengthening the Bankโs financial profile over the past few years.”
His Highness added: “The successful issuance underscores investorsโ confidence in Ajman Bankโs financial strength and strategic direction. It also supports the Bankโs efforts to further strengthen its capital base and diversify its funding sources, enabling it to continue serving its customers while supporting businesses and the UAE economy.”
Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said: โAs Ajman Bankโs first AT1 issuance, this transaction broadens our capital toolkit and diversifies our sources of regulatory capital. We are pleased to have attracted strong support from institutional investors, reflecting growing familiarity with the Ajman Bank credit story and confidence in the Bankโs continued transformation.โ
The successful completion of this issuance reinforces Ajman Bankโs commitment to sustainable growth, responsible banking, and supporting the evolving needs of its customers and communities. It also aligns with the UAEโs vision of developing deeper and more resilient financial markets. The Sukuk will be listed on the London Stock Exchangeโs International Securities Market and Nasdaq Dubai.
