Bank AlJazira concludes SAR 1.5B AT1 sukuk offering

Logo of Bank AlJazira

Bank AlJazira announced today, March 12, the completion of its additional tier 1 (AT1), SAR-denominated sukuk offering worth SAR 1.46 billion.

 

In a statement on Tadawul, the bank noted that the issuance was conducted through a private placement to nationwide qualified investors, under its SAR 5 billion AT1 Sukuk Program.  

 

Offering Summary

Issue Type

Additional Tier-1 SAR-denominated sukuk issuance, under the SAR 8 billion Additional Tier-1 Capital Sukuk Program.

Offer Value

SAR 1.46 bln

Target Investors

Qualified investors in the Kingdom of Saudi Arabia

Total Number of Sukuk

1,464 based on the minimum denomination and total issue size.

Par Value

SAR 1 mln

Return

6.35% annually from the issue date until 31 March 2031; the rate will be reset on that date and every 5 years thereafter, as specified in the applicable final terms of the Sukuk.

Maturity

Perpetual, callable after 5 years

Call / Redemption Terms

Sukuk may be redeemed under certain conditions as detailed in the Sukuk Base Prospectus.

Settlement Date

12 March 2026

 

The bank launched in February a private placement of SAR-denominated Additional Tier 1 sukuk, with AlJazira Capital and Al Rajhi Capital as joint lead managers and bookrunners, according to Argaam’s data.

 

Bank AlJazira Sukuk Issuances

Date

Value

Return

Program

March 2026

SAR 1.5 bln

6.35%

Additional Tier 1 capital sukuk program worth SAR 1.5 bln

September 2025

$500 mln

6.50%

Additional Tier 1 capital sukuk program worth $1.5 bln

January 2025

SAR 1 bln

6.30%

Tier 1 program valued at SAR 5 bln

June 2023

SAR 2 bln

6.00%

Tier 1 program valued at SAR 5 bln

December 2021

SAR 2 bln

6-month SAIBOR + 155 bps

SAR denominated Tier 2 sukuk

June 2021

$500 mln

3.95%

US dollar denominated Tier 1 capital sukuk

June 2016

SAR 2 bln

6-month SAIBOR + 190 bps

Subordinated SAR denominated sukuk

January 2011

SAR 1 bln

—

Sukuk redeemed in 2016

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