Banque Saudi Fransi announces start of issuing dollar-denominated bonds within medium-term bond program

Banque Saudi Fransi announced on Wednesday the commencement of the offer of the Notes. The offering period will start on Wednesday, corresponding to 11-16-2022, until 11-17-2022, as the minimum subscription is USD 200,000, with an increase of USD 1,000 over that.
The bank stated that the bond maturity period is 5 years, and the offering price and the number of bonds will be determined according to market conditions.
The Bank has mandated Citigroup Global Markets Limited, J.P. Morgan Securities plc, HSBC Bank plc, Merrill Lynch International, Standard Chartered Bank and Saudi Fransi Capital as joint lead managers. Minimum Subscription USD 200,000 and in increments of USD 1,000 in excess thereof.
According to Saudi Fransi’s announcement on Tadawul, the bonds can be redeemed before the established maturity date in certain cases, according to what is detailed in the circular of the basic offering of bonds and the medium-term bond program.
The Notes will be listed on the International Securities Market of the London Stock Exchange plc. The Notes may only be sold in reliance on Regulation S under the Securities Act of 1933, as amended.