Bank AlJazira completes SAR 1B AT1 sukuk issuance

Bank AlJazira completed the offering of its SAR-denominated additional Tier (AT) 1 sukuk, under the Tier 1 Issuance program worth SAR 5 billion, the bank said in a statement on Tadawul.  

The current offering amounted to SAR 1 billion and was settled on Jan. 15.

The Saudi-listed lender noted that the first reset of the sukuk yield is scheduled for Jan. 15, 2030. Subsequently, the sukuk yield will be reset every five years from the initial reset date, as outlined in the applicable final terms.

According to data compiled by Argaam, Bank AlJazira announced recently plans to issue a SAR-denominated AT 1 sukuk through a private placement in Saudi Arabia, aligning with its SAR 5 billion Tier 1 sukuk Issuance program.