Bank AlJazira offers second-tier sukuk in riyals under SAR 3 billion programme
Bank AlJazira launched a private placement of second-tier capital sukuk in Saudi riyals under a SAR 3 billion programme with a 10-year maturity.
Bank AlJazira launched a private placement of second-tier capital sukuk denominated in Saudi riyals, under a programme worth SAR 3 billion.
The subscription period begins on 5 November and continues until 6 December, according to the announced offering details.
The minimum investment is SAR 1 million per investor, and the nominal value is SAR 1 million per sukuk.
The sukuk have a 10-year maturity and may be redeemed after five years, with pricing to be determined according to market conditions.
What do these terms mean?
Sukuk: Sharia-compliant securities similar to bonds; the holder represents ownership of a share in an asset or project in return for a return.
Tier 2: Supplementary capital a bank uses to strengthen its financial position, ranking below core capital.
Private placement: The sale of securities to a limited number of qualified investors rather than to the general public.
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