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Bank AlJazira is set to issue Saudi Arabian riyal (SAR) denominated additional tier 1 (AT1) capital sukuk.
The perpetual bonds will be offered under the bank’s SAR 5 billion ($1.33 billion) AT1 Capital Sukuk Programme via a private placement, the bank confirmed on Monday.
The company’s board approved the offering on February 5, 2026, but the actual size and terms of the sale will be determined later, based on market conditions.
The sukuk will be offered to specific institutional investors in Saudi Arabia.
The bank has appointed AlJazira Capital and Al Rajhi Capital as joint lead managers and bookrunners for the offering.
(Writing by Cleofe Maceda; editing by Seban Scaria)
