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Banking & Finance

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Saudi Arabia’s Bank Aljazira taps into debt market

By TRENDS Desk
June 21, 2021 9:56 am

    Saudi Arabia’s Bank Aljazira will issue US-denominated capital certificates that could reach up to $500 million, the Saudi bank said in a bourse filing.

    The sale, conducted through a Cayman Islands-registered vehicle, will only be available to pre-selected investors in a private placement, and the certificates are redeemable after five years from the date of issue, it said.

    The exact value of the sale has yet to be confirmed, reported Arab News, quoting the bank statement. Alinma Investment, Aljazira Capital, and JP Morgan Securities have been appointed as joint lead managers and bookrunners for the offer. A number of Saudi listed companies are tapping debt markets amid strong investor appetite for the paper.

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