Logo of Banque Saudi Fransi (BSF)
Banque Saudi Fransi (BSF) completed the issue of US dollar-denominated sukuk, valued at $700 million, offered to qualified investors inside and outside Saudi Arabia.
The total number of sukuk reached 3,500 (based on the minimum denomination and total issue size), with a nominal value of $200,000, and a return of 5% per year per certificate, bank said in a statement to Tadawul.
The maturity period is five years. The sukuk can be redeemed earlier in certain cases as detailed in the base offering circular.
The certificates will be listed on the London Stock Exchange. They may only be sold in reliance on Regulation S under the US Securities Act of 1933, as amended, the statement noted.
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Details of Sukuk Issuance |
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Issuance Type |
US dollar-denominated sukuk under the Trust Certificate Issuance Program |
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Offering Amount |
$700 mln |
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No. of Sukuk |
3,500 |
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Par Value |
$200,000 |
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Return |
5% per annum |
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Maturity Period |
5 years |
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Redemption Conditions |
Sukuk can be redeemed before the scheduled maturity date under certain conditions detailed in the primary offering circular and the Trust Certificate Issuance Program. |
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