Bank Al Jazira intends to issue additional sukuks worth 5 billion riyals

Bank Al Jazira intends to issue additional first tranche (Tier 1) sukuks within the framework of the first tranche (Tier1) sukuk issuance program worth 5 billion riyals through a private offering in the Kingdom of Saudi Arabia.
According to the bank’s statement on Tadawul Saudi Arabia, the bank appointed Al-Jazira Financial Markets Company (Al-Jazira Capital), Al-Rajhi Capital Company and HSBC Saudi Arabia as issue managers and dealers.
He noted that the issuance value and conditions for offering the sukuk are determined based on market conditions.
He added that the aim of the offering is to strengthen the bank’s capital base to support the bank’s financial and strategic needs.
The offering of the sukuks is subject to the approval of the competent official authorities and the offering will be made in accordance with the relevant laws and regulations.