Aljazira Bank Plans Issuance of U.S. Dollar-Denominated Tier 1 Sukuk

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Aljazira Bank announced on Tuesday its intention to issue U.S. dollar-denominated Additional Tier 1 Capital Sukuk under its Additional Tier 1 Capital Sukuk Programme established on Sep. 4, 2025.

In a Tadawul filing, the Bank said the issuance will be conducted through a special purpose vehicle (SPV) and offered to eligible investors inside and outside the Kingdom of Saudi Arabia. The size and terms of the sukuk offering will be determined at a later stage, subject to market conditions.

The Bank said the proceeds will be used to strengthen its Tier 1 capital base and for general corporate purposes.

Aljazira Bank has appointed Abu Dhabi Commercial Bank PJSC, AlJazira Capital, Arqaam Capital, ASB Capital Limited, Citigroup Global Markets Limited, Emirates NBD Bank P.J.S.C, First Abu Dhabi Bank PJSC, Goldman Sachs International, J.P. Morgan Securities plc, and Standard Chartered Bank as Joint Lead Managers and bookrunners for the potential offering.