BSF Concludes Offering of Dollar-Denominated Sukuk

Banque Saudi Fransi (BSF) announced on Wednesday the end of its offering of U.S. Dollar-denominated sukuk under its Trust Certificates Issuance Programme (the “Certificates”).

It explained that the value of the offering is USD 750 million, the total number of sukuk is 3,750 (based on the minimum denomination and total issue size), while the nominal value of the sukuk is USD 200,000, the return is 5.375% per year, and the maturity duration is 5 years.

It indicated that the sukuk can be redeemed before the maturity date in certain cases as detailed in the basic offering circular regarding the sukuk and the Certificates.

The Bank added that the sukuk will be listed on the International Securities Market on the London Stock Exchange plc, while the sukuk may only be sold in accordance with Regulation (S) of the US Securities Act of 1933, as amended.