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Banking & Finance

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

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TSMC’s H1 revenue up 40 percent

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Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

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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