Al Jazira Bank Issues $500M Sukuk
Al Jazira Bank announced the completion of an additional Tier 1 capital sukuk issuance valued at $500 million, targeted at qualified investors in both domestic and international markets. The bank distributed 2,500 sukuk, each with a par value of $200,000, offering a fixed return of 6.50% and redemption after five years. The sukuk will be listed on the London Stock Exchange as part of a program with a total capacity of up to $1.5 billion to support the bank’s financial growth.
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