Bank Al Jazira raises one billion riyals from issuing additional bonds

Bank Al Jazira announced the completion of the offering for the issuance of additional first tranche bonds denominated in riyals.
The bank said in a statement on the Saudi Tadawul: The value of the offering is one billion riyals, while the total number of bonds is 1,000 bonds (based on the minimum category and the total size of the issue).
She added that the nominal value of the instrument is one million riyals.
It stated that the return on the instrument is 6.30% fixed annually, paid on a semi-annual basis, and its calculation begins from the settlement date, which is 07/15/1446 AH (corresponding to 01/15/2025 AD).
The first reset of the Sukuk yield will be on 09/11/1451 AH (corresponding to 01/15/2030 AD) (the “First Reset Date”), after which the Sukuk yield will be reset every five years following the First Reset Date as detailed in the Final Terms. applied.
There is no due date (with redemption due on the first reset 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.