Fatima Al-Kashef

Saudi Arabia’s Bank Al-Jazira, listed on the Saudi Stock Exchange, has begun offering dollar-denominated perpetual Additional Tier 1 capital sukuk to qualified investors inside and outside the Kingdom, according to a disclosure by the bank to Tadawul on Wednesday.

The offering is part of a program launched by the bank in September 2025 to issue $1.5 billion in additional Tier 1 capital sukuk. In September 2025, the bank issued $500 million in dollar-denominated perpetual Tier 1 sukuk under the same program, with an annual return of 6.5%.

Bank Al-Jazira was established and began its operations in 1975 after acquiring branches of the National Bank of Pakistan. It has been listed on the Saudi Stock Exchange since 1976 and operates through more than 70 branches in the Kingdom, according to the bank’s official website and market data.

What are the new details?

(According to the disclosure)

- The period for issuing the sukuk extends between June 17 and 18, 2026.

The final value of the issue, the terms of the offering, and the return will be determined according to market conditions.

- The instruments are permanent and redeemable after 5 years.

- The instruments may be redeemed in certain cases according to the terms and conditions of issuance.

- The bonds will be listed on the International Financial Market of the London Stock Exchange.

(Prepared by: Fatima Al-Kashef, Edited by: Shaimaa Hefzy, Contact: zawya.arabic@lseg.com )

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