BSFR intends to issue U.S. Dollar denominated Certificates

Banque Saudi Fransi (the “Bank”) announced on Wednesday 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. This purpose is for Islamic finance business.

According to the published statement on Tadawul, the 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, Emirates NBD Bank P.J.S.C., HSBC Bank plc, Merrill Lynch International, 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.