Publication Date:
Tue, 2011-03-29 23:57
“Bank Aljazira announces the successful completion of its private sukuk issuance of 1 billion riyals on March 29.... the issuance subscriptions were four times more than the amount approved by the Saudi monetary agency,” the statement said.
Pricing for the sukuk for the first five years will be 1.7 percent over the six-month SIBOR and can be returned in five years, the bank said.
Al-Jazira Bank had announced earlier this month that it planned to issue a local currency-denominated Sukuk and said that the local units of HSBC and J.P. Morgan Chase will be managing the bond sale.
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