Saudi Arabia’s Bank AlJazira has priced a $500 million Reg S perpetual AT1 sukuk at a spread of 650 bp over US Treasuries, tightening from IPTs in the 7% yield area.
Book size topped $1.5 billion, excluding JLM.
The PerpNC5.5 issuance, denominated in US dollars, is expected to settle on June 24, 2026, with a pricing date of June 17, 2026.
The sukuk will be listed on the London Stock Exchange’s International Securities Market.
Abu Dhabi Commercial Bank, Bank Aljazira, Arqaam Capital, Arab National Bank, Citi, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs and JPMorgan acted as joint bookrunners, while Standard Chartered served as bookrunner and documentation bank.
(Writing by Brinda Darasha; editing by Seban Scaria)
