Banque Saudi Fransi completes issuance of Tier 1 Sukuk at SAR 5 bln

04/11/2020 Argaam

Banque Saudi Fransi (BSF) said it completed the issuance of SAR-denominated additional Tier 1 Sukuk at SAR 5 billion.

 

The lender issued sukuk by way of private placement with an annual return of 4.5% from (and including) the issue date up to (but excluding) Nov. 3, 2025. The return rate will then be reset on Nov. 3, 2025, and every five years.

 

The Sukuk may be redeemed early due to a capital event, tax event or at the option of the bank as described in the issuance terms and conditions.

 

The bank mandated Saudi Fransi Capital as sole bookrunner, lead arranger and manager for the private placement.

 

Sukuk Details

Issuance amount

SAR 5 bln

Number of sukuk

5,000 (based on the minimum denomination and total issue size)

Par Value (Bonds/Sukuk)

SAR 1 mln

Return

4.5% per annum from (and including) the issue date up to (but excluding) Nov. 3, 2025. The rate of return will be reset on Nov. 3, 2025, and every five years thereafter.

Maturity

Perpetual

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read