The start of offering additional sukuks worth 5 billion riyals

Bank Al Jazira announced the start of offering additional sukuk denominated in riyals, within the framework of the first tranche sukuk programme.
The bank announced on the Saudi Tadawul website yesterday its intention to offer additional first-tranche sukuk denominated in riyals within the framework of the first-tranche sukuk program worth 5 billion riyals through private subscription in the Kingdom of Saudi Arabia.
He noted that the issuance value and conditions for offering the sukuk are determined based on market conditions.
He pointed out that the start date of the offering is 06-25-1446, corresponding to 12-26-2024, and the end date of the offering is 07-08-1446, corresponding to 01-08-2025.
She explained that the target group for the issuance: institutional clients who are qualified in accordance with the rules for offering securities and continuing obligations issued by the Capital Market Authority.
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 stated that the minimum subscription is one million riyals, while the offering price and return of the instrument are determined according to market conditions.
There is no maturity date (with the right to redeem on a relevant date or as specified in the terms and conditions).
The Sukuk are continuous, with redemption rights in certain cases, as detailed in the offering document for the Sukuk.