Bank Aljazira plans to issue riyal-denominated Sharia-compliant bonds (sukuk) to support its capital base and finance expansions, a filing to Tadawul said.
The issue will follow investors meetings in Riyadh, Jeddah and Dammam and its aggregate amount will be announced on closing of subscription, the bank said.
Bank Aljazira mandated HSBC Saudi Arabia and J.P. Morgan Saudi Arabia to arranger the issue.
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