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Bank Aljazira to issue SAR-denominated Sukuk

Bank Aljazira to issue SAR-denominated Sukuk
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Riyadh – Mubasher: Bank Aljazira plans to issue SAR-denominated Tier 2 Sukuk at a value of up to SAR 2 billion through a private placement.

The Sukuk will hold a tenor of 10 years and can be redeemed in five years from the date of issuance, according to a bourse filing.

Bank Aljazira has appointed AlJazira Capital and HSBC Saudi Arabia as the joint lead managers and bookrunners for the potential Sukuk offer.

The Saudi lender aims to strengthen its capital base through the Sukuk issue to support the bank’s financial and strategic plans.