Ajman Bank successfully prices inaugural USD 300 million additional Tier 1 Perpetual Sukuk

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 Bank’s continued growth journey.

The issuance reflects the strong confidence investors placed in Ajman Bank’s financial strength, strategic direction, and ongoing transformation. As the Bank’s 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 Bank’s strong franchise and credit profile.

H.H. 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 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."

H.H. added: "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."

Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said:“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.”

The successful completion of this issuance reinforces Ajman Bank’s commitment to sustainable growth, responsible banking, and supporting the evolving needs of its customers and communities. 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.