Bank AlJazira plans dollar-denominated offering of perpetual Islamic bonds

By Rebecca Melvin

Concord, N.H., June 24 – Baj Sukuk Tier 1 Ltd. is offering dollar-denominated, perpetual sukuk, or Islamic bonds, guaranteed by Bank AlJazira, according to a notice on Thursday.

The Regulation S bonds will be non-callable for five years.

J.P. Morgan Securities plc, Alinma Investment Co. and Aljazira Capital are the banks managing the issue.

The personal banking, investment banking, private banking and asset management services firm is based in Saudi Arabia.

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