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Saudi Aljazira Bank plans T2 capital sukuk via private placement

By Zawya

By Staff Writer

Saudi Arabia’s Aljazira Bank plans to issue Saudi riyal-denominated sukuk under its SAR 3 billion ($800 million) Tier 2 Capital Sukuk Programme.

The issuance is expected to be carried out through a private placement to eligible investors in Saudi Arabia.

The amount and terms of the sukuk will be determined at a later stage based on market conditions.

Aljazira Capital and Al Rajhi Capital are the joint lead managers and bookrunners for the proposed offering.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

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