AI Summary
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.
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Offering Summary |
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Issue Type |
Additional Tier-1 SAR-denominated sukuk issuance, under the SAR 8 billion Additional Tier-1 Capital Sukuk Program. |
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Offer Value |
SAR 1.46 bln |
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Target Investors |
Qualified investors in the Kingdom of Saudi Arabia |
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Total Number of Sukuk |
1,464 based on the minimum denomination and total issue size. |
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Par Value |
SAR 1 mln |
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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. |
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Maturity |
Perpetual, callable after 5 years |
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Call / Redemption Terms |
Sukuk may be redeemed under certain conditions as detailed in the Sukuk Base Prospectus. |
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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.
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Bank AlJazira Sukuk Issuances |
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Date |
Value |
Return |
Program |
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March 2026 |
SAR 1.5 bln |
6.35% |
Additional Tier 1 capital sukuk program worth SAR 1.5 bln |
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$500 mln |
6.50% |
Additional Tier 1 capital sukuk program worth $1.5 bln |
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SAR 1 bln |
6.30% |
Tier 1 program valued at SAR 5 bln |
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SAR 2 bln |
6.00% |
Tier 1 program valued at SAR 5 bln |
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SAR 2 bln |
6-month SAIBOR + 155 bps |
SAR denominated Tier 2 sukuk |
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$500 mln |
3.95% |
US dollar denominated Tier 1 capital sukuk |
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June 2016 |
SAR 2 bln |
6-month SAIBOR + 190 bps |
Subordinated SAR denominated sukuk |
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January 2011 |
SAR 1 bln |
— |
Sukuk redeemed in 2016 |
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