BSF issues US dollar Sukuk

Logo of Banque Saudi Fransi (BSF)

Banque Saudi Fransi (BSF) started issuing its US dollar denominated Sukuk under its Trust Certificate Issuance Program. 

  

In a statement to Tadawul, BSF said the value and terms of the certificates will be determined subject to the market conditions. 

 

Sukuk Details

Type of Issuance

US dollar denominated Sukuk under its Trust Certificate Issuance Program

Amount of Issuance

Subject to market conditions

Start Date

May 23, 2023

Closing Date

May 24, 2023

Target Group

Qualified Investors inside and outside the Kingdom

Minimum Subscription

$200,000 and integral multiples of $1,000 in excess thereof

Listing Price

Subject to market conditions

Par Value

$200,000

Return

Subject to market conditions

Maturity

Five years

Terms of Redemption

May be redeemed early subject to the terms and conditions of the Sukuk

Underwriters

Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, Goldman Sachs International, HSBC Bank plc, Mizuho International plc and Saudi Fransi Capital as joint lead managers
 

This announcement does not represent an invitation or an offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the issuance.

 

BSF will announce any other relevant material developments in due course.

 

Sukuk will be listed on the International Securities Market of the London Stock Exchange (LSE).

 

Sukuk may only be sold by virtue of Regulation S under the Securities Act of 1933, as amended.

 

The issuance end date, which is mentioned above, is the expected date for the issuance end, subject to market conditions.

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