BSF Announces Launch of Dollar-Denominated Sukuk

Banque Saudi Fransi (BSF) (the “Bank”) announced on Tuesday the launch of U.S. Dollar-denominated sukuk under the Trust Certificate Issuance Programme (the “Certificates”); explaining that the nominal value of the sukuk is USD 200,000.

The Bank explained that the minimum subscription is USD 200,000 in increments of USD 1,000, and the maturity duration of the sukuk will be 5 years, and the sukuk can be redeemed before the due date in certain cases as detailed in the circular of the basic sukuk offering and the Sukuk Issuance Programme (the Certificates).

According to the announcement published on “Tadawul”, the offering duration for qualified investors inside and outside the Kingdom of Saudi Arabia begins on January 14, 2025, and ends on January 15, 2025.

The Bank appointed HSBC Bank plc as a Global Coordinator and mandated Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Emirates NBD Bank P.J.S.C., Goldman Sachs International, The Islamic Corporation for the Development of the Private Sector, Mashreq bank PSC (acting through its Islamic Banking Division), Mizuho International plc, SMBC Bank International plc and Saudi Fransi Capital as joint lead managers.

The Bank confirmed that the sukuk will be listed on the International Securities Market of the London Stock Exchange. The sukuk may only be sold in accordance with Regulation “S” of the US Securities Act of 1933, as amended.