BSF plans to issue USD-denominated AT-1 sukuk

28/04/2025 Argaam

BSF plans to issue USD-denominated AT-1 sukuk

One of BSF branches 

Banque Saudi Fransi (BSF) plans to issue US dollar-denominated additional Tier 1 sukuk under its Additional Tier 1 Capital Note Programme.

 

The bank indicated that the move is based on the board of directors' decision dated Aug. 19, 2024, where executive management members were delegated with all powers and authority necessary on behalf of the bank to establish the Additional Tier 1 Capital Note Programme and to issue any series of sukuk from time to time.

 

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The issuance is expected to target qualified investors inside and outside Saudi Arabia.
 
The bank appointed Abu Dhabi Commercial Bank, Citigroup, Crédit Agricole, Emirates NBD, HSBC, Mashreqbank, Merrill Lynch Saudi Arabia, Mizuho International, MUFG Securities EMEA and BSF Capital as joint lead managers.

 

The value and term of the offer will be determined subject to the market conditions.

 

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

 

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

 

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

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