Logo of Banque Saudi Fransi
Banque Saudi Fransi (BSF) started a US dollar-denominated bond issuance under its Medium-Term Note (MTN) Program.
The number of bonds and their terms will be determined according to market conditions, the bank said in a statement to Tadawul.
Below are the bond details:
|
Bond Issuance Details |
|
|
Type |
US dollar-denominated bonds under MTN program |
|
Amount |
Subject to market conditions |
|
Start date |
Nov. 16, 2022 |
|
End date |
Nov. 17 |
|
Target group |
Qualified investors inside and outside Saudi Arabia |
|
Minimum subscription limit |
$200,000 and integral multiples of $1,000 in excess thereof |
|
Listing price |
Subject to market conditions |
|
Par value |
$200,000 |
|
Return |
Subject to market conditions |
|
Maturity |
Five years |
|
Terms of redemption |
Bonds can be redeemed prior to maturity date as detailed in the offering circular and the MTN program |
|
Underwriter |
Citigroup Global Markets Limited, JP Morgan Securities PLC, HSBC Bank PLC, Merrill Lynch International, Standard Chartered Bank, and Saudi Fransi Capital |
The issuance is expected through a special purpose vehicle (SPV) and will be offered to eligible investors in Saudi Arabia and internationally,
The notes will be listed on the international securities market of the London Stock Exchange. The notes may only be sold in reliance on Regulation S under the Securities Act of 1933, as amended, the statement said.
The issuing end date referred to above is the expected date of the end of the offering, subject to market conditions.
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