Banque Saudi Fransi Successfully Concludes USD 700 Million Offering of U.S. Dollar-Denominated Certificates

Banque Saudi Fransi announced the completion of the offer of U.S. Dollar-denominated Certificates under the Trust Certificates Issuance Programme at an amount of USD 700 million. The total number of (Bonds/Sukuk) is 3,500 (based on the minimum denomination and total issue size). At the same time, the (Bonds/Sukuk) par value amounted to USD 200,000, with a return of 5.000% per annum and a maturity period of 5 years.

The company stated on Sunday on Tadawul that the Certificates may be redeemed prior to the scheduled maturity date in certain cases as detailed in the Base Offering Circular in relation to the Certificates and the Trust Certificates Issuance Programme. Adding that the Certificates will be listed on the International Securities Market of the London Stock Exchange plc. The Certificates may only be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.

This comes in reference to the announcement from the Bank, published on the website of the Saudi Stock Exchange on 18/01/2024, regarding the commencement of the Bank’s offer of U.S. Dollar denominated Certificates under the Trust Certificates Issuance Programme by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally.