The final orderbook is in excess of $1.65bln, excluding JLM interest.
Saudi Arabia’s Bank AlJazira, rated A3 (stable) / A-(stable) by Moody’s and Fitch, has priced its dollar-denominated, benchmark perpetual non-call 5.5-year AT1 sukuk on par, with a profit rate of 6.5% and a reset margin of +284.7 bps.
The price was marginally tightened from the initial price thoughts in the 6.875% area.
The final orderbook for the Reg S, Category 2 sukuk was in excess of $1.65 billion, excluding JLM interest.
The Mudaraba structure will be listed on London Stock Exchange’s International Securities Market and will come under the lender’s $1.5 billion Additional Tier 1 Trust Certificate Programme.
Banks mandated included Al Jazira Capital, Citigroup Global Markets Limited, Dubai Islamic Bank, Emirates NBD Bank, JP Morgan Securities, Mashreqbank and Standard Chartered Bank as Joint Lead Managers and Bookrunners.
In January, Bank AlJazira tapped the markets for a Perpetual 1-billion-riyal ($270 million) AT1 sukuk offering through a private placement to boost its capital.
In its bid to compete with the US on AI, Europe could learn from both…
At the Global Facility for Transboundary Waters, when we speak with stakeholders about transboundary water management,…
Access to jobs is influenced by where people live and the conditions that surround them.…
The global economy is entering another period of heightened stress. Geopolitical tensions, policy uncertainty, climate…
Little is known about how firms think about rare macroeconomic disasters and how these beliefs…
Tariffs have returned as instruments of economic and geopolitical policy, but their short- and medium-run…