Bank Aljazira is planning to fully redeem its SAR 2 billion Tier II sukuk on June 2, 2021, at face value, the bank said in a statement to Tadawul. 

 

The sukuk was offered through a private placement on June 2, 2016, while the original maturity date is June 2, 2026.

 

The redemption amount along with the periodic distribution amount (for the period up to refinancing redemption date) will be transferred to sukuk holders on June 2, 2021, based on their respective holdings as of May 25, 2021, the statement added.

 

A total of 2,000 sukuks, at a nominal value of SAR 1 million each, were issued. Trading on sukuk will be suspended on May 25, 2021.

 

As the payment administrator, Saudi Fransi Capital is responsible for depositing and contact methods.

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