BSF to issue USD-denominated Tier 2 capital notes

The issuance of the notes 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

Banque Saudi Fransi (BSF) plans to issue USD-denominated Tier 2 capital notes under its Medium-Term Note Program.

This is based on the board of directors’ decision on May 18, 2025. The decision gave specific executive management members all the authority and powers required or appropriate on behalf of the bank to carry out the issuance of any Series of Notes from time to time, according to a statement to Tadawul.

For more news on listed companies

The bank also indicated that the amount and terms of the notes offering will be determined subject to the market conditions, noting that the offering is aimed at general banking purposes.

The issuance of the notes is expected to be through a special purpose vehicle (SPV) and through an offering directed to qualified investors in the Kingdom of Saudi Arabia and internationally. Moreover, it will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations, according to the statement.

The bank has mandated Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, DBS Bank Ltd, Emirates NBD Bank PJSC, HSBC Bank PLC, Mashreq Bank PSC, Mizuho International plc and Saudi Fransi Capital as joint lead managers.

This announcement is not meant as an invitation to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the notes, according to the statement.

The bank also noted that it will announce any other relevant material developments in due course as required by the relevant rules and regulations.