Bank Aljazira plans early redemption of SAR 2 bn sukuk as new offering runs

Aljazira makes the call

Bank Aljazira plans to redeem its entire SAR 2 bn Tier 2 sukuk issuance on 8 December, its first call date five years into its 10-year term, according to a Tadawul filing. The bank has secured regulatory approval to exercise its early redemption option, with investors set to receive the full face value of their holdings plus any outstanding distributions.

REMEMBER- Aljazira launched a separate Tier 2 sukuk offering last week under an SAR 3 bn issuance program. The private placement runs through 6 December, two days before the planned redemption, with the final issuance size and pricing yet to be determined. The bank has not said whether the new offering will refinance the existing sukuk.

Mawsool gets angel backing

Saudi AI-powered sales platform Mawsool has closed a pre-seed investment round backed by 12 angel investors and companies, including T2 founder Abdullah Al-Dosari and Advanced Elements Co, according to a statement. The value of the round was not disclosed.

About Mawsool: Founded in 2023 by Osama Abdelhadi and Adi Ali, Mawsool uses AI-powered virtual agents to identify potential business customers and verify their details before passing leads to sales teams. The company plans to use the investment to accelerate product development and expand across Saudi Arabia and the wider MENA region.