BSF plans to issue SAR-denominated additional Tier 1 sukuk

12/08/2024 Argaam
Logo of Banque Saudi Fransi (BSF)

Logo of Banque Saudi Fransi (BSF)


Banque Saudi Fransi (BSF) plans to issue a SAR-denominated additional Tier 1 sukuk under its SAR 8 billion Additional Tier 1 Capital Sukuk Program via a private placement in Saudi Arabia, according to a Tadawul statement.

 

This is based on the board of directors' resolution dated Jan. 22, 2024, which includes delegating certain executive management members with all powers and authority necessary or appropriate on behalf of the bank to establish the program and carry out the issuance of any series of sukuk from time to time.

 

For more news on listed companies

 

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

 

The number and value of sukuk to be offered will be determined based on market conditions.

 

The purpose of the potential offer is to strengthen the bank’s capital base.

 

The offer will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations.

 

This announcement is not intended as an invitation of offer to purchase, acquire, or subscribe to any securities and is subject to the terms and conditions of the sukuk.

 

The bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations.

Comments {{getCommentCount()}}

Be the first to comment

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.