AlJazira Bank to recover $500M sukuk
Al Jazeera Bank announced its intention to redeem its entire international bonds denominated in dollars, amounting to $500 million, which were issued on June 29, 2021, at the optional maturity date of June 29, 2026. The redemption will be at full face value, with any due distributions being paid, and trading of the bonds will cease from this date. This decision comes as part of the bank’s management of its capital structure and financing tools after five years since the bond issuance.
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