Banque Saudi Fransi completes offering denominated Certificates of USD 900 million

Banque Saudi Fransi announced on Wednesday the completion of its offering of U.S. Dollar- denominated Certificates under the Trust Certificates Issuance Programme. Whereas the offering is amounted to USD 900 million, stating that the settlement of the Certificates issuance will be on 31.05.2023.

The management stated on Wednesday on Tadawul that the total number of (Bonds/Sukuk) is 4,500 (based on the minimum denomination and total issue size), while the Par Value of (Bonds/Sukuk) amounted to USD 200,000, with a Return (Bonds/Sukuk) of 4.75% (per annum), and the maturity of (Bonds/Sukuk) is 5 years.

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.

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 with reference to the announcement from Banque Saudi Fransi published on the website of the Saudi Stock Exchange on Tadawul on 23.05.2023, 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.