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Banking & Finance

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

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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