Banque Saudi Fransi intends to issue U.S. Dollar denominated certificates

Banque Saudi Fransi (the “Bank”) announced its intention to issue U.S. Dollar denominated Certificates under its Trust Certificate Issuance Programme based on its Board of Directors resolution dated 15.05.2023 in which it delegated certain Executive Management members with all powers and authority necessary or appropriate on behalf of the Bank to establish the Programme and to carry out the issuance of any Series of Certificates from time to time.

The management said that issuance is expected to be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally.

The Bank has mandated Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, Goldman Sachs International, HSBC Bank plc, Mizuho International plc and Saudi Fransi Capital as joint lead managers.

The offer of the Certificates will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations.

The management said that this announcement is not intended as an invitation of offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the certificates. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations.