BSF completes $650M AT-1 sukuk issuance

01/05/2025 Argaam

BSF completes $650M AT-1 sukuk issuance

Logo of Banque Saudi Fransi (BSF) 

Banque Saudi Fransi (BSF) completed the issuance of US dollar-denominated additional Tier 1 sukuk worth $650 million under its Additional Tier 1 Capital Note Programme.
 

The sukuk will be settled on May 7, 2025, the bank said in a filing to Tadawul. 

 

Details

Offer Type

US dollar-denominated additional Tier 1 sukuk under its Additional Tier 1 Capital Note Programme

Offer Value

$650 mln

Total No. of Sukuk

3,250 (based on minimum denomination and total issue size)

Nominal Value

$200,000

Return

6.37% annually

Maturity

Perpetual, callable after six years

Terms of Redemption

Sukuk may be redeemed prior to the maturity date under specific conditions outlined in the Base Offering Circular in relation to the Additional Tier 1 Capital Note Programme
 

The sukuk will be listed on the International Securities Market of the London Stock Exchange plc. They may only be sold in accordance with Regulation S under the US Securities Act of 1933, as amended.

 

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