Bank Aljazira is set to 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, the bank said.
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.
