Bank AlJazira plans to issue SAR-denominated additional Tier 1 sukuk

25/12/2024 Argaam
Logo ofBank AlJazira

Logo of Bank AlJazira 

Bank AlJazira 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, according to a statement to Tadawul.

 

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The bank mandated AlJazira Capital, Al Rajhi Capital, and HSBC Saudi Arabia as sole lead manager for the issue.

 

The value and terms of the sukuk issue will be determined at a later stage based on market conditions at that time. The sukuk issue will be directed to boost the bank’s capital base while enabling it to achieve long-term strategic objectives.

 

The proposed offer will be subject to the approval of the relevant regulatory authorities and will be in compliance with applicable laws and regulations.

 

The statement further highlighted that the announcement does not constitute an invitation or offer to purchase, acquire, or subscribe to any securities. The bank will disclose any other material developments related to this matter in due course, in accordance with the relevant regulations and laws.

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