Bank AlJazira Offers USD 533.1 Million Worth of SAR-Denominated Tier 2 Sukuk

On the 21st of November 2021, Saudi Arabia-based Bank AlJazira started the offering of a SAR-denominated Tier-2 Sukuk worth SAR 2 billion (USD 533.1 million) via a private placement in Saudi Arabia. This was in a statement by the bank to Tadawul, the stock exchange in the country.

Why it Matters?

The end date of the offer would be the 31st of December 2021, and the targeted class of the issuance is sophisticated investors, in line with Article 9 of the Rules for the Offer of Securities and Continuing Obligations.

Details

The offer's joint lead managers and bookrunners are AlJazira Capital and HSBC Saudi Arabia. The minimum subscription amount has been set as SAR 1 million (USD 266,590) while the offer price would...