Logo of Bank AlJazira
Bank AlJazira commenced today, Nov. 21, the offer of SAR-denominated Tier 2 sukuk worth SAR 2 billion, through a private placement in Saudi Arabia, the bank said in a statement to Tadawul.
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Sukuk Details |
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Issuance type |
SAR-denominated Tier 2 sukuk |
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Amount |
SAR 2 bln (The number and value of the sukuk will be determined based on market conditions). |
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Start date |
Nov. 21, 2021 |
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End date |
Dec. 31, 2021 |
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Target group |
Sophisticated investors (based on Article 9 of the Rules on the Offer of Securities and Continuing Obligations) |
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Minimum subscription |
SAR 1 mln |
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Offer price |
It will be determined based on market conditions |
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Par value |
SAR 1 mln |
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Return (sukuk/bond) |
It will be determined based on market conditions |
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Maturity |
10 years callable in the fifth year of issuance, subject to the terms and conditions of the sukuk |
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Redemption |
To be redeemed on the maturity date |
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Lead managers |
AlJazira Capital and HSBC Saudi Arabia were appointed as joint lead managers and bookrunners for the offer |
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The sukuk may be redeemed prior to the maturity date in certain cases, including any events that impact capital, a tax event, an event of default, or based on the issuer call option, pursuant to terms and conditions of the offer.
This announcement is not intended to be an invitation or offer to purchase, acquire or subscribe to any securities. The bank will announce any other relevant material developments in due course, the statement concluded.
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