AI Summary
BSF logo illustrated as the bank completed the issuance of $1B Tier 2 capital notes
Banque Saudi Fransi (BSF) announced the successful completion of a USD- denominated $1 billion Tier 2 capital notes issuance, under its medium-term note (MTN) program.
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In a statement on Tadawul, the bank said the settlement of the notes is expected to take place on Sept.3.
Issuance Details
|
Type of Issuance |
US dollar-denominated Tier 2 capital notes under the MTN program |
|
Offering Value |
$1 billion |
|
Total Number of Bonds |
5,000 (based on minimum currency denomination and total issue volume) |
|
Par Value |
$200,000 |
|
Yield |
5.761% per annum |
|
Maturity |
10 years, callable after 5 years |
|
Redemption Terms |
Notes may be redeemed prior to maturity under certain conditions, as detailed in the base prospectus of the MTN program |
The debt instruments will be listed on the London Stock Exchange's International Securities Market (ISM). It may only be sold under Regulation S of the US Securities Act of 1933, as amended.
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