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Bank Aljazira Announces the Start of Issuing Additional Tier 1 Sukuk denominated in Saudi Riyals.
| Element List | Explanation |
|---|---|
| Introduction | Reference is made to the announcement of Bank AlJazira (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 24/06/1446H (corresponding to 25/12/2024G), relating to its intention to issue a Saudi Riyal denominated Additional Tier 1 Sukuk ("Sukuk") under its SAR 5,000,000,000 Additional Tier 1 Capital Sukuk Issuance Programme by way of private placement in the Kingdom of Saudi Arabia. The Bank would like to announce the commencement of the offer of the Sukuk. |
| Offer Type | Additional Tier 1 Sukuk denominated in Saudi Riyals. |
| Value of the offer | The issuance amount and terms of offer of the Sukuk will be determined based on the market conditions. |
| Offering start Date | 2024-12-26 Corresponding to 1446-06-25 |
| Offering end Date | 2025-01-08 Corresponding to 1446-07-08 |
| The targeted class of the issuance | Institutional and qualified clients, in accordance with Rules on the Offer of Securities and Continuing Obligations issued by the Capital Market Authority |
| Name of Issuance Manager | The Bank has mandated AlJazira Capital, Al Rajhi Capital and HSBC Saudi Arabia as Joint Lead Managers and Dealers. |
| Minimum Subscription | One million Saudi Riyals (SAR 1,000,000). |
| Offer Price (Sukuk /Bonds) | Subject to market conditions. |
| Par Value | One million Saudi Riyals (SAR 1,000,000). |
| Return (Sukuk /Bonds) | Subject to market conditions. |
| Maturity (Sukuk /Bonds) | Perpetual (subject to early redemption on a Call Date or as otherwise specified in the terms and conditions). |
| Terms of Redemption | The Sukuk are perpetual securities, with some redemption rights in certain cases as detailed in the offering circular in relation to the Sukuk. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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