Ajman Bank prices debut $300m AT1 Sukuk at 6.5%

Ajman: Ajman Bank has successfully priced its inaugural $300 million Additional Tier 1 (AT1) Perpetual Non-Call 5.5-Year Sukuk at a profit rate of 6.5 per cent, marking a key milestone in the lender’s capital management strategy.

The transaction, the bank’s first-ever AT1 capital Sukuk, reflects strong investor confidence in Ajman Bank’s financial strength, strategic direction and ongoing transformation. It follows the successful debut senior Sukuk issued by the bank last year and represents another step in strengthening its capital profile.

The issuance drew strong interest from high-quality institutional investors across the region and international markets, highlighting growing recognition of Ajman Bank’s credit profile and market position.

Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said the inaugural AT1 Sukuk marks “a natural evolution” in the bank’s capital management strategy. “Our inaugural Additional Tier 1 (AT1) Sukuk issuance represents a natural evolution in Ajman Bank’s capital management strategy and reflects the significant progress we have made in strengthening the Bank’s financial profile over the past few years,” Sheikh Ammar said.

“The successful issuance underscores investors’ confidence in Ajman Bank’s financial strength and strategic direction. It also supports the Bank’s 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,” he added.

Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said the transaction broadens the bank’s capital toolkit and expands its sources of regulatory capital.

“As Ajman Bank’s 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 Bank’s continued transformation,” he said.

Ajman Bank said the issuance reinforces its commitment to sustainable growth and responsible banking while enhancing its capacity to support customers, businesses and the broader UAE economy. It also aligns with the UAE’s vision of developing deeper and more resilient financial markets.

The Sukuk will be listed on the London Stock Exchange’s International Securities Market and Nasdaq Dubai.