Saudi Fransi raises SAR 2 bln from private sukuk

19/06/2014 Argaam

Saudi Fransi Bank raised yesterday two billion riyals from a Sharia-compliant bond (sukuk) issue with aim to boost its capital base in line with Basel III rules.
 

The ten-year, private placement was priced at 3-month SIBOR plus 1.40 percent, and the bank may buy back the bonds five years after the issue.

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