Logo of Bank AlJazira
Bank AlJazira commenced the issuance of sukuk, under the Tier 1 Issuance program, through a private placement in Saudi Arabia, the lender said in a statement on Tadawul.
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Sukuk Issuance Details |
|
|
Offer Type |
SAR-denominated additional Tier 1 Sukuk |
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Offer Value |
To be determined as per market conditions. |
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Start Date |
Dec. 26, 2024 |
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End Date |
Jan. 8, 2024 |
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Target Class |
Institutional and qualified clients as defined by the Rules on the Offer of Securities and Continuing Obligations issued by the Capital Market Authority. |
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Lead Manager |
The bank has mandated AlJazira Capital, Al Rajhi Capital and HSBC Saudi Arabia as joint lead managers and dealers. |
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Minimum Subscription Limit |
SAR 1 mln |
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Offer Price |
Subject to market conditions |
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Par Value |
SAR 1 mln |
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Sukuk Return |
Subject to market conditions |
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Maturity |
Perpetual subject to early redemption on a call date or as otherwise specified in the terms and conditions. |
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Terms of Redemption |
The sukuk are perpetual securities, with some redemption rights in certain cases as detailed in the offering circular in relation to the sukuk. |
For more news on listed companies
According to data compiled by Argaam, Bank AlJazira announced on Dec. 25 plans to issue a SAR-denominated Additional Tier 1 sukuk through a private placement in Saudi Arabia, aligning with its SAR 5 billion Tier 1 Sukuk Issuance program.
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