Bank AlJazira starts offer of SAR-denominated AT1 sukuk

Logo of Bank AlJazira

Bank AlJazira started today, June 14, the offer of SAR-denominated Additional Tier 1 (AT1) sukuk by way of private placement, according to a statement to Tadawul.

 

Sukuk Details

Issuance type

SAR-denominated AT1 sukuk

Value

Offer value and terms will be determined based on market conditions

Start date

June 14, 2023

End date

July 13, 2023

Target group

Institutional and qualified investors (based on the CMA’s Rules on the Offer of Securities and Continuing Obligations)

Minimum subscription

SAR 1 mln

Offer price per sakk

It will be set based on market conditions

Par value

SAR 1 mln

Return

It will be set based on market conditions

Lead manager

AlJazira Capital

Maturity

Perpetual (The bank can redeem sukuk on a specific date or as specified in terms and conditions)

Redemption terms

The sukuk can be redeemed in certain cases as detailed in the offering circular

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