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Saudi’s Al-Jazira Bank plans Islamic bond sale | ASHARQ AL-AWSAT English Archive 2005 -2017
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JEDDAH, (Reuters) – Saudi’s Al-Jazira Bank 1020.SE plans to issue a local currency-denominated Islamic bond to boost its capital and expansion plans, it said in a bourse statement on Tuesday.

Al-Jazira did not specify the size of the sukuk or when it plans to launch the issue but said that the local units of HSBC and J.P. Morgan Chase & Co will be managing the bond sale.

“It will be issued depending on the situation of the market and after meeting with investors in Jeddah, Riyadh and Dammam,” the firm said in the statement.