{"id":92943,"date":"2024-12-29T00:00:00","date_gmt":"2024-12-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/29\/bank-aljazira-kicks-off-tier-1-sukuk-issuance\/"},"modified":"2024-12-29T00:00:00","modified_gmt":"2024-12-29T00:00:00","slug":"bank-aljazira-kicks-off-tier-1-sukuk-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/29\/bank-aljazira-kicks-off-tier-1-sukuk-issuance\/","title":{"rendered":"Bank AlJazira kicks off tier 1 sukuk issuance"},"content":{"rendered":"

Bank <\/strong>AlJazira<\/strong> kicked off a SAR-denominated additional tier 1 sukuk <\/strong>issuance<\/strong>, as part of its broader SAR 5 bn shariah-compliant debt scheme<\/a>, according to a filing to Tadawul<\/a>. The return on the sukuk and its final value are yet to be determined, and will be based on prevailing market conditions, with proceeds earmarked for supporting the bank\u2019s capital base and growth plans, according to a previous disclosure<\/a> to the exchange. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The details: <\/strong>Institutional and qualified investors will have until Wednesday, 8 January to subscribe to the offering, with the minimum subscription limit set at SAR 1 mn. Offered through private placement, the sukuk will carry a par value of SAR 1 mn and is perpetual in nature, meaning it has no fixed maturity date. It may be redeemed on a call date or under specific circumstances outlined in the terms and conditions. <\/p>\n

ADVISORS- <\/strong>Our friends at HSBC Saudi Arabia, Aljazira Capital, and Al Rajhi Capital are serving as joint lead managers for this issuance. <\/p>\n","protected":false},"excerpt":{"rendered":"

The notes have no fixed maturity date<\/p>\n","protected":false},"author":1,"featured_media":92944,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[912,57,10,118],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-bank-aljazira","tag-debt-watch","tag-enterpriseam-ksa","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"5d40142c-0b7b-4ef6-bc07-b4764be33f12","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/2398.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bank AlJazira kicks off tier 1 sukuk issuance","related_issue":[92933],"teaser":"The notes have no fixed maturity date","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.5e6be53b-9814-4fbc-ad03-393698d86e2b.mp3"},"yoast_head":"\nBank AlJazira kicks off tier 1 sukuk issuance - 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