BSF completes SAR 2.5B Tier 1 sukuk issuance

05:13 PM (Mecca time) Argaam
Logo ofBanque Saudi Fransi (BSF)

Logo of Banque Saudi Fransi (BSF)

Banque Saudi Fransi (BSF) completed the issuance of SAR-denominated additional Tier 1 sukuk worth SAR 2.5 billion.

 

The sukuk is perpetual, with no specified maturity (subject to early redemption on a call date or as otherwise specified in the terms and conditions), the bank added in a Tadawul filing today, Nov. 11.

 

Offering Summary

Issue Type

Additional Tier-1 SAR-denominated sukuk issuance, under the SAR 8 billion Additional Tier-1 Capital Sukuk Program.

Offer Value

SAR 2.5 bln

Total Number of Sukuk

2,500, based on the minimum denomination and total issue size.

Par Value

SAR 1 mln

Return

6.4% annually

Maturity

Perpetual, carrying no specified maturity (subject to early redemption on a call date or as otherwise specified in the terms and conditions).

Redemption Terms

The sukuk may be redeemed early due to a capital event, tax event or at the option of the bank as described in the applicable final terms of the sukuk.

 

The bank also noted that this announcement is not considered an invitation or offer to the purchase, ownership or subscription to any securities.

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